Guideline Value for Karunanidhi Nagar Ist Street

Karunanidhi Nagar Ist Street guideline value

The current guideline value of Karunanidhi Nagar Ist Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Karunanidhi Nagar Ist Street has changed

The guideline value for Karunanidhi Nagar Ist Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the current figure of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%, reflecting the changes in the area over the years.

Guideline values in Ayanavaram

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

• Karunanidhi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 5th 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees total 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.

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

Which Sub Registrar Office covers Karunanidhi Nagar Ist Street?

The Sub Registrar Office covering Karunanidhi Nagar Ist 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 plays a crucial role in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property must be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar Ist Street?

The current guideline value of Karunanidhi Nagar Ist 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, indicating that Karunanidhi Nagar Ist Street's current value is below this median.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Karunanidhi Nagar Ist Street located?

The Sub Registrar Office for Karunanidhi Nagar Ist Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.