Guideline Value for Karaiyanchavadi street (west)

Karaiyanchavadi street (west) guideline value

The current guideline value of Karaiyanchavadi street (west) is Rs 3,250 per sq.ft. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Karaiyanchavadi street (west) has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision raised it to Rs 3,250 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 442%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, which means that Karaiyanchavadi street (west) is above the median value.

• Karaiyanchavadi vaaniyar street (east): Rs 3,250 per sq.ft (2024)
• Kantharupan nagar: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street west: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street south: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street north: Rs 2,200 per sq.ft (2024)
• Karunagaran nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karaiyanchavadi street (west)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value is Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, making the total cost for these fees Rs 2,92,500. 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 detailed calculations.

Which Sub Registrar Office covers Karaiyanchavadi street (west)?

The Sub Registrar Office that covers Karaiyanchavadi street (west) is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Poonthamallee. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall transaction costs. Buyers and sellers should ensure that they are informed about the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Karaiyanchavadi street (west)?

The current guideline value of Karaiyanchavadi street (west) is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 3,250 per sq.ft in 2024, reflecting an overall increase of 442% over the years.

What are the registration fees for property transactions in Karaiyanchavadi street (west)?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Poonamallee Sub Registrar Office covers Karaiyanchavadi street (west), located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft, with Karaiyanchavadi street (west) being above this median at Rs 3,250 per sq.ft.