Guideline Value for Karuna Nidhi Street

Karuna Nidhi Street guideline value

The current guideline value of Karuna Nidhi Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Baraniputjur village under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of Karuna Nidhi Street has changed

The guideline value for Karuna Nidhi Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it saw a decrease to Rs 737 per sq.ft in 2017. The value then rose to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,210 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 384%, reflecting a significant change in the property landscape over the years.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft. The median value is Rs 1,210 per sq.ft, which is the same as the guideline value for Karuna Nidhi Street.

• Karthik Avenue: Rs 1,450 per sq.ft (2024)
• Jothi Nagar: Rs 1,210 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,210 per sq.ft (2024)
• Janaki Raman Nagar: Rs 1,210 per sq.ft (2024)
• Iyyappanthangal Main Road: Rs 1,450 per sq.ft (2024)

Stamp duty and registration fee for property in Karuna Nidhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value is Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karuna Nidhi Street?

The Sub Registrar Office that covers Karuna Nidhi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Baraniputjur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Karuna Nidhi Street?

The current guideline value of Karuna Nidhi Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, which is a total increase of 384% over the years.

What is the land classification for Karuna Nidhi Street?

Karuna Nidhi Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for Karuna Nidhi Street?

The registration office for Karuna Nidhi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Karuna Nidhi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at a rate of 7%.