Guideline Value for Karnam Street Ext

Karnam Street Ext guideline value

The current guideline value of Karnam Street Ext is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Karnam Street Ext has changed

The guideline value for Karnam Street Ext has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,400 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows an increase of 9%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Karnam Street Ext's 2024 figure above this median.

• Karnam Street: Rs 2,400 per sq.ft (2024)
• Karpagam Nagar: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 1st Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karpaga Vinayakar Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Karnam Street Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Karnam Street Ext?

The Sub Registrar Office that covers Karnam Street Ext is 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 Selaiyur

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark to determine the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price, which can impact the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Karnam Street Ext?

The current guideline value of Karnam Street Ext is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revision in 2024 showing an increase from Rs 2,200 per sq.ft in 2023. The value was Rs 1,474 per sq.ft in 2017, which was a decrease from Rs 2,200 per sq.ft in 2012.

What is the land classification of Karnam Street Ext?

Karnam Street Ext is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Karnam Street Ext?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Karnam Street Ext located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.