Guideline Value for Karnan Nagar

Karnan Nagar guideline value

The current guideline value of Karnan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Karnan Nagar has changed

The guideline value for Karnan Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase from Rs 1,200 per sq.ft in 2023. This represents a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, indicating a significant increase of 49% from that year to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is equal to the guideline value of Karnan Nagar.

• Karpaga Vinayagar Koil Street: Rs 1,100 per sq.ft (2024)
• Karaunadhi Nagar: Rs 1,320 per sq.ft (2024)
• Kannagi Street (3): Rs 1,320 per sq.ft (2024)
• Kannagi Street (12): Rs 1,320 per sq.ft (2024)
• Kattabomman Street: Rs 1,320 per sq.ft (2024)
• Kannadasan Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karnan Nagar?

The Sub Registrar Office that covers Karnan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Pozhichalur. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karnan Nagar?

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

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, which is a total increase of 64% over the seven-year period.

What is the land classification of Karnan Nagar?

Karnan Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Karnan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.