Guideline Value for KARUNYA NAGAR

Karunya Nagar guideline value

The current guideline value of Karunya Nagar, located in Sivabootham village under the Chennai South Joint I SRO, is Rs 1,130 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Karunya Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,300 per sq.ft. However, this value decreased by 23% to Rs 1,005 per sq.ft in the 2017 revision, which remained unchanged through the 2023 revision. The 2024 revision saw an increase of 12%, bringing the current guideline value to Rs 1,130 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has decreased by 13%.

Guideline values in Sivabootham

Sivabootham village has 39 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Karunya Nagar's 2024 figure below the median.

• Kamatchi Nagar Bharathi Salai: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 1st Street: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 per sq.ft (2024)
• Kurinchi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Karunya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,130 per sq.ft, the total guideline value amounts to Rs 11,30,000. The stamp duty at 7% would be Rs 79,100, and the registration fee at 2% would be Rs 22,600, bringing the total charges to Rs 1,01,700. 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 Karunya Nagar?

The Sub Registrar Office that covers Karunya Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be sold or purchased. During the registration process, this value is used to calculate the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Karunya Nagar?

The current guideline value of Karunya Nagar is Rs 1,130 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 1,300 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, which remained the same until 2023. The most recent revision in 2024 increased the value to Rs 1,130 per sq.ft.

What is the median guideline value in Sivabootham?

The median guideline value for streets in Sivabootham is Rs 1,650 per sq.ft, which is higher than the current guideline value of Karunya Nagar.

What are the stamp duty rates in Karunya Nagar?

The stamp duty rate for properties in Karunya Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

Which office handles registrations for Karunya Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Karunya Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.