Guideline Value for Karunanidhi Nagar

Karunanidhi Nagar guideline value

The current guideline value of Karunanidhi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Karunanidhi Nagar has changed

The guideline value for Karunanidhi Nagar has seen several revisions over the years. Starting from Rs 346 per sq.ft in 2002, it increased to Rs 388 per sq.ft in 2003. Following that, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it jumped to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before rising again to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while it rose by 67% from 2007 to 2012. The increase from 2003 to 2007 was substantial at 209%, and from 2002 to 2003, it was 12%. Overall, from 2002 to 2024, the guideline value has increased by 536%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Karunanidhi Nagar is below this median.

• Kariyan Ponnan Street: Rs 2,800 per sq.ft (2024)
• K B Street: Rs 4,400 per sq.ft (2024)
• Kannagi Street: Rs 2,800 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Komathi Street: Rs 3,900 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total charges would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Karunanidhi Nagar?

The Sub Registrar Office that covers Karunanidhi Nagar 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 more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar?

The current guideline value of Karunanidhi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 346 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various revisions in between.

What is the land classification for Karunanidhi Nagar?

Karunanidhi Nagar is classified as Residential Class II Type - II.

What is the stamp duty rate for properties in Karunanidhi Nagar?

The stamp duty rate for properties in Karunanidhi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.