Guideline Value for Karikalan East 2nd Street (East Karikalan 2nd street)

Karikalan East 2nd Street (East Karikalan 2nd street) guideline value

The current guideline value of Karikalan East 2nd Street (East Karikalan 2nd 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Karikalan East 2nd Street (East Karikalan 2nd street) has changed

Over the years, the guideline value for Karikalan East 2nd Street has seen several revisions. Starting from the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 2,345 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,500 per sq.ft. The latest revision in 2024 saw another increase of 11%, setting the current guideline value at Rs 3,900 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In summary, the overall change from the 2012 revision to the 2024 revision is an increase of 11%. The guideline value has fluctuated over the years, with notable changes occurring between the 2017 and 2023 revisions, as well as from 2023 to 2024.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry 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 current guideline value of Karikalan East 2nd Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to 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, making the total Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karikalan East 2nd Street (East Karikalan 2nd street)?

The Sub Registrar Office that covers Karikalan East 2nd 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Adambakkam. It helps determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which is essential for maintaining transparency in real estate transactions. This helps in assessing the value of properties and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karikalan East 2nd Street?

The current guideline value of Karikalan East 2nd Street (East Karikalan 2nd 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. It also increased from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023.

What is the land classification for Karikalan East 2nd Street?

Karikalan East 2nd Street falls under the Residential Class I Type - III land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

Which office handles property registration for this area?

The Alandur Sub Registrar Office handles property registration for Karikalan East 2nd Street. It is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.