Guideline Value for Karanai Road

Karanai Road guideline value

The current guideline value of Karanai Road in Ottiyampakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Karanai Road has changed

The guideline value for Karanai Road has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, the value increased significantly to Rs 2,000 per sq.ft in 2023 and then rose again to Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

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

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. Karanai Road's 2024 guideline value is above this median.

• Kanni Koil Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil Second Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil First Cross Street: Rs 1,650 per sq.ft (2024)
• Kambar Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Kolatchiamman Koil Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Karanai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Karanai Road?

Karanai Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal valuation of the property. It is crucial for ensuring compliance with local regulations and for facilitating a smooth registration process.

Frequently asked questions

What is the current guideline value of Karanai Road?

The current guideline value of Karanai Road 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 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 Karanai Road?

Karanai Road is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties on Karanai Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.