Guideline Value for KARUNEEGAR STREET

Karuneegar Street guideline value

The current guideline value of Karuneegar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karuneegar Street has changed

The guideline value for Karuneegar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 158 per sq.ft. This increased to Rs 175 per sq.ft in 2003, marking a change of +11%. The value continued to rise significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of +129%. Following this, the 2012 revision saw a decrease, with the guideline value set at Rs 2,500 per sq.ft, which was a drop of -33% from the previous figure.

In the subsequent revisions, the value increased again, reaching Rs 1,675 per sq.ft in 2017, a notable increase of +49% from 2012. The most recent revision in 2023 set the guideline value at Rs 2,500 per sq.ft, and the latest figure of Rs 2,750 per sq.ft in 2024 represents a +10% increase from 2023. There are no figures available for any other revisions for this street.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, making the current value for Karuneegar Street above this median.

• KANNIAMAN NAGAR - Veeramamunivar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Varasidhi Vinayagar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Vallalar Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Siva Sakthi Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Kannadasan Street: Rs 2,200 per sq.ft (2024)
• KANNIAMAN NAGAR - Kambar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karuneegar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karuneegar Street?

The Sub Registrar Office that covers Karuneegar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor when registering a property in Nerkundram. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the duty is charged based on the higher of the two.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the government receives appropriate revenue through stamp duty. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in the area.

Frequently asked questions

What is the current guideline value of Karuneegar Street?

The current guideline value of Karuneegar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 158 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1641% over the years.

What are the other streets in Nerkundram with their guideline values?

Other streets in Nerkundram include KANNIAMAN NAGAR - Veeramamunivar Street, Varasidhi Vinayagar Street, Vallalar Street, Siva Sakthi Street, Kannadasan Street, and Kambar Street, all valued at Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Karuneegar Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Karuneegar Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Karuneegar Street.