Guideline Value for Karikalan Nagar

Karikalan Nagar guideline value

The current guideline value of Karikalan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Padiyanallur village under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Karikalan Nagar has changed

The guideline value for Karikalan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,320 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The current value reflects a 10% increase from the previous year, 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, and Karikalan Nagar's 2024 figure of Rs 1,320 per sq.ft is above this median.

• karikalvalavan Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kannagi Street: Rs 1,320 per sq.ft (2024)
• Kannadasan Street: Rs 770 per sq.ft (2024)
• Kattabomman Street: Rs 770 per sq.ft (2024)
• Kambar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karikalan Nagar?

The Sub Registrar Office that covers Karikalan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Padiyanallur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall transaction costs. Buyers should ensure that the sale price is at least equal to or above the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Karikalan Nagar?

The current guideline value of Karikalan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Karikalan Nagar?

Karikalan Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Karikalan Nagar?

The registration office for Karikalan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Karikalan Nagar?

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 stamp duty would be Rs 92,400.