Guideline Value for Karikalan 5th Street

Karikalan 5th Street guideline value

The current guideline value of Karikalan 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Karikalan 5th Street has changed

Over the years, the guideline value of Karikalan 5th Street has seen significant changes. In 2002, the guideline value was Rs 328 per sq.ft. This increased to Rs 374 per sq.ft in 2003, marking a 14% rise. Following this, the value surged to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 221%. The value then reached Rs 3,500 per sq.ft in 2012, which was a notable increase of 192% from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 3,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year. The register has no figures for the years not listed above.

Guideline values in Adambakkam

In Adambakkam, there are a total of 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Karikalan 5th Street.

• Karikalan 4th Street: Rs 3,900 per sq.ft (2024)
• Karikalan East 1st Street (East Karikalan Ist street): Rs 3,900 per sq.ft (2024)
• Karikalan 1st Lane: Rs 3,900 per sq.ft (2024)
• Karikalan East 2nd Street (East Karikalan 2nd street): Rs 3,900 per sq.ft (2024)
• Karikalan Street Main: Rs 3,900 per sq.ft (2024)
• Karuneegar Street (Main): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan 5th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karikalan 5th Street?

The Sub Registrar Office that covers Karikalan 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adambakkam. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value must be considered as it directly impacts the costs involved in the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect their overall expenses.

Frequently asked questions

What is the current guideline value of Karikalan 5th Street?

The current guideline value of Karikalan 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1089% over the years.

What is the land classification of Karikalan 5th Street?

Karikalan 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Which office handles the registration for Karikalan 5th Street?

The Alandur Sub Registrar Office handles the registration for Karikalan 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Karikalan 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.