Guideline Value for Karunanidhi Nagar 5th Street

Karunanidhi Nagar 5th Street guideline value

The current guideline value of Karunanidhi Nagar 5th 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 5th Street has changed

The guideline value for Karunanidhi Nagar 5th 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, marking a growth of 257%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, which represented a decline of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,800 per sq.ft in 2024, reflecting a growth of 12% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,900 per sq.ft, making the current value of Karunanidhi Nagar 5th Street below this median.

• Karunanidhi Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fees would be 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.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Karunanidhi Nagar 5th Street?

The Sub Registrar Office that covers Karunanidhi Nagar 5th 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 the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property transaction occurs, the guideline value helps determine the official value of the property for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 5th Street?

The current guideline value of Karunanidhi Nagar 5th 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 significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 300% over this period.

What is the land classification for Karunanidhi Nagar 5th Street?

Karunanidhi Nagar 5th Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Karunanidhi Nagar 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.