Guideline Value for KARUNEEGAR STREET

Karuneegar Street guideline value

The current guideline value of Karuneegar Street is Rs 1,000 per sq.ft, as per the 2023 revision. This street is located in Kolapakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Karuneegar Street has changed

Since the 2007 revision, the guideline value of Karuneegar Street has seen significant changes. In 2007, the value was Rs 230 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, this figure remained the same in 2017, where the value was Rs 670 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2023 shows the guideline value back at Rs 1,000 per sq.ft, marking an increase of 49% from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 335%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

Currently, there are no specific village figures available for Kolapakkam. However, Karuneegar Street's guideline value is Rs 1,000 per sq.ft. There are no other streets in Kolapakkam under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Karuneegar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karuneegar Street?

The Sub Registrar Office that covers Karuneegar Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the official guidelines.

Frequently asked questions

What is the current guideline value of Karuneegar Street?

The current guideline value of Karuneegar Street is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 230 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and finally returning to Rs 1,000 per sq.ft in 2023.

What is the total cost for a 1,000 sq.ft plot on Karuneegar Street?

The total cost for a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft is Rs 10,00,000, with additional fees for stamp duty and registration.

Where can I find the Sub Registrar Office for Karuneegar Street?

The Sub Registrar Office for Karuneegar Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What factors influence the stamp duty and registration fees?

The stamp duty and registration fees are influenced by the guideline value, which serves as the basis for calculating these costs. The duty is charged on the higher of the guideline value or the sale price of the property.