Guideline Value for Karunanidhi Nagar 1st Street

Karunanidhi Nagar 1st Street guideline value

The current guideline value of Karunanidhi Nagar 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Karunanidhi Nagar 1st Street has changed

The guideline value for Karunanidhi Nagar 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 6,100 per sq.ft, which is an increase from Rs 5,500 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the value was Rs 3,685 per sq.ft, reflecting a significant increase of 49% over the six-year period.

In 2012, the guideline value was Rs 5,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value for Karunanidhi Nagar 1st Street is equal to this median.

• Karunanidhi Nagar 2nd Street: Rs 6,100 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 6,100 per sq.ft (2024)
• Kottur Garden 1st Loop Street: Rs 9,400 per sq.ft (2024)
• Kottur Garden 1st Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Loop Street: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 6,100 per sq.ft, the guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, totaling Rs 5,49,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunanidhi Nagar 1st Street?

The Sub Registrar Office that covers Karunanidhi Nagar 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adayar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 1st Street?

The current guideline value of Karunanidhi Nagar 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2023 to Rs 6,100 per sq.ft in 2024. It was Rs 3,685 per sq.ft in 2017 and Rs 5,500 per sq.ft in 2012.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 5,49,000, which includes Rs 4,27,000 for stamp duty and Rs 1,22,000 for registration fees.

Which office handles registrations for Karunanidhi Nagar 1st Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Karunanidhi Nagar 1st Street.

What is the land classification for Karunanidhi Nagar 1st Street?

The land classification for Karunanidhi Nagar 1st Street is Residential Class II Type - I.