Guideline Value for Karian Street, Veeraswamy Nagar

Karian Street, Veeraswamy Nagar guideline value

The current guideline value of Karian Street, Veeraswamy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Karian Street, Veeraswamy Nagar has changed

The guideline value for Karian Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,090 per sq.ft, placing Karian Street's 2024 figure below this median.

• Karikalan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kannan Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kannan Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Karuappan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Kannaiyeram Street /Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kannairam Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Karian Street, Veeraswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. 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 Karian Street, Veeraswamy Nagar?

The Sub Registrar Office that covers Karian Street, Veeraswamy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Pammal. It is the value determined by the government for the purpose of calculating stamp duty and registration fees. Buyers must be aware that the guideline value is used as a benchmark during registration, ensuring that the property is accurately valued for tax purposes.

When a property is sold, the registration office refers to the guideline value to assess the applicable stamp duty. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction based on the official valuation.

Frequently asked questions

What is the current guideline value of Karian Street, Veeraswamy Nagar?

The current guideline value of Karian Street, Veeraswamy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is higher than the current value of Rs 1,980 per sq.ft for Karian Street.

What are the stamp duty rates applicable in Pammal?

The stamp duty rate in Pammal is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Karian Street, Veeraswamy Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.