Guideline Value for Karunanidhi Nagar 9th Street

Karunanidhi Nagar 9th Street guideline value

The current guideline value of Karunanidhi Nagar 9th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karunanidhi Nagar 9th Street has changed

The guideline value for Karunanidhi Nagar 9th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 700 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, representing a 33% decline. The value saw a substantial increase again to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,800 per sq.ft, a 12% increase from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a guideline value for 2024 ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Karunanidhi Nagar 9th Street is below this median.

• Karunanidhi Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Puram: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar 9th 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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees 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.

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

Which Sub Registrar Office covers Karunanidhi Nagar 9th Street?

The Sub Registrar Office that covers Karunanidhi Nagar 9th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering a property in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price. Buyers and sellers must consider this value to avoid discrepancies during the registration process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar 9th Street?

The current guideline value of Karunanidhi Nagar 9th 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, an overall increase of 300% over the years.

What is the land classification for Karunanidhi Nagar 9th Street?

Karunanidhi Nagar 9th Street is classified as Residential Class II Type - II.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during a sale.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office covering Karunanidhi Nagar 9th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.