Guideline Value for Karunanidhi Nagar 5th Street

Karunanidhi Nagar 5th Street guideline value

The current guideline value of Karunanidhi Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is 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 seen several revisions over the years. In 2002, the value was Rs 534 per sq.ft. This increased to Rs 599 per sq.ft in 2003, marking a 12% rise. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, which was a 67% increase. The 2012 revision saw a drop to Rs 3,000 per sq.ft, reflecting a decrease of 200%. However, the value rebounded to Rs 2,010 per sq.ft in 2017, which was a 33% increase. The value further increased to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by 518%.

Guideline values in Ayanavaram

Ayanavaram 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 value for these streets is Rs 4,900 per sq.ft, placing Karunanidhi Nagar 5th Street's 2024 value below this median.

• Karunanidhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 3rd 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)
• Karunanidhi Nagar 2nd Street: Rs 3,300 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 rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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.

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 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

The guideline value plays a crucial role during 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 appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the fees are based on the higher value between the guideline value and the sale price, which may affect the total cost involved in the transaction.

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 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 534 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 518% over the years.

What is the registration office for Karunanidhi Nagar 5th Street?

The registration office for Karunanidhi Nagar 5th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total stamp duty and registration fees would amount to Rs 2,97,000.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value for registration and the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price.