Guideline Value for Karunanidhi Nagar

Karunanidhi Nagar guideline value

The current guideline value of Karunanidhi Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Karunanidhi Nagar has changed

Over the years, the guideline value of Karunanidhi Nagar has seen several revisions. In 2002, the value was Rs 112 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. The value then rose to Rs 1,500 per sq.ft in 2012, remained unchanged at Rs 1,500 per sq.ft in 2023, and continues at the same rate in the 2024 revision.

Notably, from 2012 to 2017, there was a decrease of 33%, bringing it down to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased by 49%, and there was no change from 2023 to 2024, reflecting a stable guideline value in recent years. The register has no figure for the year 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Karunanidhi Nagar's 2024 figure at the median.

• Karthik Nagar: Rs 1,000 per sq.ft (2024)
• Karpagambal Nagar Extn: Rs 1,500 per sq.ft (2024)
• Karpagambal Nagar: Rs 1,500 per sq.ft (2024)
• K.K. Avenue: Rs 1,500 per sq.ft (2024)
• Kameshwari Nagar: Rs 1,500 per sq.ft (2024)
• Krishnapuram 1 to 3 Cross Streets: Rs 1,500 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. 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?

The Sub Registrar Office that covers Karunanidhi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Karunanidhi Nagar?

The current guideline value of Karunanidhi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 112 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1239% over the years.

What is the median guideline value for streets in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, which is the same as the current value for Karunanidhi Nagar.

What are the stamp duty and registration fees for a property in Karunanidhi Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles registrations for properties in Karunanidhi Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for properties in Karunanidhi Nagar, located near the Veterinary Hospital in Nandhivaram.