Guideline Value for Karunanidhi Nagar 2nd Street

Karunanidhi Nagar 2nd Street guideline value

The current guideline value of Karunanidhi Nagar 2nd Street is Rs 6,100 per sq.ft. This street is located in Kottur village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karunanidhi Nagar 2nd Street has changed

The guideline value for Karunanidhi Nagar 2nd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 5,500 per sq.ft, which then decreased to Rs 3,685 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,500 per sq.ft in 2023, and further rose to Rs 6,100 per sq.ft in 2024.

Specifically, the change from 2017 to 2023 was an increase of 49%, while the change from 2023 to 2024 was an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottur

Kottur village features a range of guideline values across its 114 streets under the Adayar SRO, with figures ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,100 per sq.ft, which is equal to the current guideline value of Karunanidhi Nagar 2nd Street.

• Karunanidhi Nagar 1st Street: Rs 6,100 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 6,100 per sq.ft (2024)
• Kasthuribai Nagar 1st Cross Road: Rs 8,800 per sq.ft (2024)
• Kasthuribai Nagar 1st Main Road: Rs 15,400 per sq.ft (2024)
• Kasthuribai Nagar 2nd Cross Road: Rs 8,800 per sq.ft (2024)
• Kasthuribai Nagar 2nd Main Road: Rs 12,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total 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, resulting in a total of Rs 5,49,000. 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 accurate calculations.

Which Sub Registrar Office covers Karunanidhi Nagar 2nd Street?

The Sub Registrar Office that covers Karunanidhi Nagar 2nd 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 Kottur

The guideline value plays a crucial role during property registration in Kottur. 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 property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 2nd Street?

The current guideline value of Karunanidhi Nagar 2nd Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several changes, with the most recent being an increase from Rs 5,500 per sq.ft in 2023 to Rs 6,100 per sq.ft in 2024. The value also increased significantly from Rs 3,685 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2023.

What is the land classification for Karunanidhi Nagar 2nd Street?

Karunanidhi Nagar 2nd Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the registration office for this area?

The registration office for Karunanidhi Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 61,00,000 would incur a stamp duty of Rs 4,27,000 at a rate of 7%.