Guideline Value for Karnam Street Extn

Karnam Street Extn guideline value

The current guideline value of Karnam Street Extn is Rs 807 per sq.ft. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class III Type - II.

How the guideline value of Karnam Street Extn has changed

The guideline value for Karnam Street Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which increased to Rs 335 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value rose significantly by 141%, reaching Rs 807 per sq.ft. The 2023 revision maintained the same value of Rs 807 per sq.ft, which will continue into the 2024 revision effective from 1 July 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this 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 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 870 per sq.ft, placing Karnam Street Extn's 2024 figure below this median.

• Karnam Street: 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 Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 807 per sq.ft, the total guideline value would be Rs 8,07,000. The stamp duty at 7% would amount to Rs 56,490, and the registration fee at 2% would be Rs 16,140, resulting in a total of 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 Extn?

The Sub Registrar Office covering Karnam Street Extn 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 figure used during the registration of property transactions in Kovilpathagai. 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, the guideline value helps both buyers and sellers understand the official valuation of the property. This figure is essential for calculating the applicable stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Karnam Street Extn?

The current guideline value of Karnam Street Extn 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, then increased to Rs 807 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Karnam Street Extn?

Karnam Street Extn is classified as Residential Class III Type - II under the Ambattur SRO.

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

For a property valued at Rs 8,07,000, the stamp duty would be Rs 56,490 and the registration fee would be Rs 16,140, totaling Rs 72,630.

Which Sub Registrar Office handles registrations for Karnam Street Extn?

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