Guideline Value for Karunanidhi Street

Karunanidhi Street guideline value

The current guideline value of Karunanidhi Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Karunanidhi Street has changed

The guideline value for Karunanidhi Street has undergone several revisions over the years. The earliest available figure is from 2007, when the value was Rs 200 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The guideline value saw a notable increase to Rs 500 per sq.ft in 2023, and it has now risen to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Karunanidhi Street is below this median.

• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Katheja Nagar: Rs 550 per sq.ft (2024)
• Kavaraikula Street: Rs 550 per sq.ft (2024)
• Kennedy Street: Rs 550 per sq.ft (2024)
• KFT City: Rs 770 per sq.ft (2024)
• Kamaraj Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making a total of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanidhi Street?

The Sub Registrar Office that covers Karunanidhi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value helps both buyers and sellers to be informed about the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Karunanidhi Street?

The current guideline value of Karunanidhi Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Karunanidhi Street?

Karunanidhi Street is classified as Residential Class III Type - I.

Where can I find the registration office for Karunanidhi Street?

The registration office for Karunanidhi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Karunanidhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.