Guideline Value for Karunanidhi Nagar 1st Street

Karunanidhi Nagar 1st Street guideline value

The current guideline value of Karunanidhi Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

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

The guideline value for Karunanidhi Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, representing a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, marking a 33% decline. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. There are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Karunanidhi Nagar 1st Street is below this median.

• Karunanidhi Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 2,800 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 guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 Karunanidhi Nagar 1st Street?

The Sub Registrar Office that covers Karunanidhi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry, as it determines the minimum value at which a property can be registered. 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.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes 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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office handles registrations for this street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covers Karunanidhi Nagar 1st Street.

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

Karunanidhi Nagar 1st Street is classified as Residential Class II Type - II according to the local regulations.