Guideline Value for Karnam Street

Karnam Street guideline value

The current guideline value of Karnam Street in Kovilpathagai village is Rs 807 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class III Type - II.

How the guideline value of Karnam Street has changed

The guideline value for Karnam Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This increased to Rs 335 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 141%, bringing the value back up to Rs 807 per sq.ft. The 2023 revision maintained this value, with no change noted for the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for Karnam Street. Overall, from 2012 to 2024, the guideline value has increased by 61%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, which means Karnam Street's 2024 figure is below that median.

• Karnam Street Extn: Rs 807 per sq.ft (2024)
• Karnaswami Pillai Street: Rs 805 per sq.ft (2024)
• Karpagambal Street: Rs 880 per sq.ft (2024)
• Karpaga Valli Street: Rs 805 per sq.ft (2024)
• Kannappa Gileri Street: Rs 805 per sq.ft (2024)
• Kannammaal Nagar: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Karnam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 807 per sq.ft, the total guideline value amounts to Rs 8,07,000. The stamp duty at 7% would be Rs 56,490, and the registration fee at 2% would be Rs 16,140, bringing the total cost for stamp duty and registration fees to Rs 72,630. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karnam Street?

The Sub Registrar Office that covers Karnam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karnam Street?

The current guideline value of Karnam Street is Rs 807 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, and then increased to Rs 807 per sq.ft in 2023 and 2024.

What is the land classification of Karnam Street?

Karnam Street is classified as Residential Class III Type - II.

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

The Sub Registrar Office for Karnam Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The rates for stamp duty and registration fees may vary, and it is advisable to use the stamp duty and registration fee calculator for accurate calculations.