Guideline Value for Karunanidhi Nagar 3rd Street

Karunanidhi Nagar 3rd Street guideline value

The current guideline value of Karunanidhi Nagar 3rd 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. The land classification for this area is Residential Class II Type - II.

How the guideline value of Karunanidhi Nagar 3rd Street has changed

Over the years, the guideline value for Karunanidhi Nagar 3rd Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, this figure then dropped to Rs 2,010 per sq.ft in the 2017 revision, marking a decrease of 33%. The guideline value saw a substantial increase to Rs 3,000 per sq.ft in the 2023 revision, before rising again to the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. 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 village has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which indicates that the 2024 guideline value for Karunanidhi Nagar 3rd Street is below this median.

• Karunanidhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 2nd 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)
• Karunanidhi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 3rd 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, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanidhi Nagar 3rd Street?

The Sub Registrar Office that covers Karunanidhi Nagar 3rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is taken into consideration to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 3rd Street?

The current guideline value of Karunanidhi Nagar 3rd 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 are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office should I visit for property registration?

The AnnaNagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Karunanidhi Nagar 3rd Street for property registration.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, impacting the stamp duty and registration fees that buyers must pay. It ensures that the government receives appropriate revenue from property transactions.