Guideline Value for Karunai Ganapathy Street

Karunai Ganapathy Street guideline value

The current guideline value of Karunai Ganapathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Karunai Ganapathy Street has changed

According to the guideline value register, there are no figures available for Karunai Ganapathy Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no prior figures for this street, there have been no changes in the guideline value between the revisions listed. The current figure is the first recorded value for Karunai Ganapathy Street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing the 2024 figure for Karunai Ganapathy Street below this median.

• Karthikeyapuram Sathiyaseelan Street, 13th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram/Sabari Salai(Adhi Kesavan Pillai Street): Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Main Road: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Lake View Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Lake View 3rd Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Extn: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karunai Ganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunai Ganapathy Street?

The Sub Registrar Office that covers Karunai Ganapathy Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value of property transactions, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value will be compared to the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Karunai Ganapathy Street?

The current guideline value of Karunai Ganapathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

When was the last revision of the guideline value for this street?

The last revision of the guideline value for Karunai Ganapathy Street was in 2024, which is the only recorded figure available for this street.

Are there any previous guideline values for Karunai Ganapathy Street?

No, the register has no figures for Karunai Ganapathy Street for the years 2002, 2003, 2007, 2012, 2017, and 2023.

How does the guideline value compare to other streets in Madipakkam-1?

The guideline value of Rs 2,200 per sq.ft for Karunai Ganapathy Street is below the median value of Rs 2,750 per sq.ft for other streets in Madipakkam-1.

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate applicable for properties in this area is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.