Guideline Value for Karunanidhi Nagar 2nd Street

Karunanidhi Nagar 2nd Street guideline value

The current guideline value of Karunanidhi Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

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

The guideline value for Karunanidhi Nagar 2nd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in the village is Rs 4,900 per sq.ft, placing Karunanidhi Nagar 2nd Street's current value below this median.

• Karunanidhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanidhi Nagar 2nd Street?

The Sub Registrar Office that covers Karunanidhi Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Ayanavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The buyer must pay these fees based on the higher of the guideline value or the sale price of the property.

This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales. Buyers should be aware of the current guideline values to understand their financial obligations during the registration process.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

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

Karunanidhi Nagar 2nd Street is classified as Residential Class II Type - II.

Where can I find the registration office for this area?

The registration office for Karunanidhi Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.