Guideline Value for Karunakaran Street

Karunakaran Street guideline value

The current guideline value of Karunakaran Street in Periyapanancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Karunakaran Street has changed

Over the years, the guideline value for Karunakaran Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, indicating a significant increase of 49% over the six-year period leading up to 2023. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

In total, from 2017 to 2024, the overall increase in the guideline value is 64%, reflecting the changes in property valuation in this area. The consistent upward trend in the guideline values indicates a growing recognition of the area's residential potential.

Guideline values in Periyapanancheri

In Periyapanancheri, there are a total of 33 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is equal to the current value of Karunakaran Street.

• Kannamal Street: Rs 1,320 per sq.ft (2024)
• Kalathumettu Street: Rs 1,320 per sq.ft (2024)
• Kundrathur Main Road: Rs 4,925 per sq.ft (2024)
• Kundrathur Main Road (ward 2): Rs 2,200 per sq.ft (2024)
• Kundrathur Main Road (ward 3): Rs 2,200 per sq.ft (2024)
• J.S. Tower: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karunakaran Street

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

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunakaran Street?

The Sub Registrar Office that covers Karunakaran Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Periyapanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps protect both parties by providing a standardized valuation. Buyers should be aware that the guideline value may differ from the actual market price, and the higher of the two will be used to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Karunakaran Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, showing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on Karunakaran Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office is responsible for Karunakaran Street?

The Pammal Sub Registrar Office is responsible for Karunakaran Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Karunakaran Street?

Karunakaran Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.