Guideline Value for Karunanidhi Lane

Karunanidhi Lane guideline value

The current guideline value of Karunanidhi Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Karunanidhi Lane has changed

The guideline value for Karunanidhi Lane has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The latest revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

When comparing the 2012 and 2017 revisions, there was a decrease of 26%. Overall, from 2012 to 2024, the guideline value has increased by 22%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Karunanidhi Lane is below this median.

• Karunanidhi Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 10th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 11th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 12th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 1st Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Lane

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 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karunanidhi Lane?

The Sub Registrar Office that covers Karunanidhi Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Karunanidhi Lane?

The current guideline value of Karunanidhi Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Karunanidhi Lane?

Karunanidhi Lane is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karunanidhi Lane?

The Madhavaram Sub Registrar Office, which covers Karunanidhi Lane, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information through the provided link.