Guideline Value for Kalaignar Karunanithi Nagar

Kalaignar Karunanithi Nagar guideline value

The current guideline value of Kalaignar Karunanithi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Ambattur village, under the jurisdiction of the Ambattur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kalaignar Karunanithi Nagar has changed

The guideline value for Kalaignar Karunanithi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded to Rs 2,000 per sq.ft in the 2023 revision, and then increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, indicating that the guideline value for Kalaignar Karunanithi Nagar is below the median.

• Kalidasan Cross Street: Rs 3,600 per sq.ft (2024)
• Kalithasar Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Kalli Kupam 13th Street (lane): Rs 3,600 per sq.ft (2024)
• Kalli Kupam 14th Street (lane): Rs 3,600 per sq.ft (2024)
• Kalli Kupam Road: Rs 3,600 per sq.ft (2024)
• Kalli Kupam Road 10th Street (Lane): Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanithi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the 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 Kalaignar Karunanithi Nagar?

The Sub Registrar Office that covers Kalaignar Karunanithi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Kalaignar Karunanithi Nagar?

The current guideline value of Kalaignar Karunanithi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kalaignar Karunanithi Nagar?

The land classification for Kalaignar Karunanithi Nagar is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kalaignar Karunanithi Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated in Ambattur?

Stamp duty in Ambattur is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.