Guideline Value for Karunanidhi Nagar

Karunanidhi Nagar guideline value

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

How the guideline value of Karunanidhi Nagar has changed

The guideline value for Karunanidhi Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 534 per sq.ft. This increased to Rs 599 per sq.ft in 2003, followed by a significant rise to Rs 1,000 per sq.ft in 2007. The value then jumped to Rs 3,000 per sq.ft in 2012, but saw a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 12% from 2002 to 2003, 67% from 2003 to 2007, 200% from 2007 to 2012, and decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 518%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Karunanidhi Nagar is below this median.

• Karunanidhi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanidhi Nagar?

The Sub Registrar Office that covers Karunanidhi Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial reference point when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 534 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 518% over this period.

What is the land classification of Karunanidhi Nagar?

Karunanidhi Nagar falls under the Residential Class II Type - II land classification, indicating its suitability for residential purposes.

How much would the stamp duty and registration fee be for a property in Karunanidhi Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fee would amount to Rs 2,97,000, based on the guideline value of Rs 33,00,000.

Where can I find the Sub Registrar Office for Karunanidhi Nagar?

The Sub Registrar Office for Karunanidhi Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the relevant link.