Guideline Value for Karunanidhi Nagar 7th Street

Karunanidhi Nagar 7th Street guideline value

The current guideline value of Karunanidhi Nagar 7th 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 7th Street has changed

The guideline value for Karunanidhi Nagar 7th Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft.

From 2007 to 2012, the value increased by 257%. The transition from 2012 to 2017 saw a decrease of 33%. A substantial increase of 49% occurred from 2017 to 2023, followed by a 12% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not contain figures for the years 2002 and 2003 for this street.

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. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Karunanidhi Nagar 7th Street's 2024 figure below the median.

• Karunanidhi Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 7th Street

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

Which Sub Registrar Office covers Karunanidhi Nagar 7th Street?

The Sub Registrar Office that covers Karunanidhi Nagar 7th 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the registration department. This value is essential for legal and financial processes associated with property ownership.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 7th Street?

The current guideline value of Karunanidhi Nagar 7th 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 from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Karunanidhi Nagar 7th Street?

The registration office for Karunanidhi Nagar 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in this area?

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

What are the guideline values of other streets in Thalakanancherry?

Other streets in Thalakanancherry have guideline values that also stand at Rs 2,800 per sq.ft for the year 2024, including Karunanidhi Nagar 6th, 8th, 5th, 9th, 4th, and 3rd Streets.