Guideline Value for Karunanidhi Nagar 7th Street

Karunanidhi Nagar 7th Street guideline value

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

The guideline value for Karunanidhi Nagar 7th Street has seen several revisions over the years. In 2002, the value was Rs 534 per sq.ft, which increased to Rs 599 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 67% increase. By 2012, the value was Rs 3,000 per sq.ft, which represented a 200% increase from the previous revision. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33% from 2012. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, indicating a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 518%. There are no figures available for revisions in years other than those listed.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Karunanidhi Nagar 7th Street's 2024 figure below that median.

• Karunanidhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 3,300 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 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, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that 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 7th Street?

The Sub Registrar Office that covers Karunanidhi Nagar 7th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

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 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, reflecting an overall increase of 518% over the years.

What is the land classification for Karunanidhi Nagar 7th Street?

Karunanidhi Nagar 7th Street is classified as Residential Class II Type - II.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Karunanidhi Nagar 7th Street?

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