Guideline Value for Karunanidhi Street

Karunanidhi Street guideline value

The current guideline value of Karunanidhi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Karunanidhi Street has changed

The guideline value for Karunanidhi Street has seen significant changes over the years. In 2002, the value was Rs 474 per sq.ft, which increased to Rs 518 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 850 per sq.ft in 2007, reflecting a substantial 64% growth. The 2012 revision saw the value rise to Rs 4,000 per sq.ft, a remarkable increase of 371%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, showing a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 828%. There are no figures available for revisions in the years not mentioned in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Karunanidhi Street.

• Kavarai Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Bharathiar Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Duraiarasan Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Indra Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kavery Naidu Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunanidhi Street?

The Sub Registrar Office that covers Karunanidhi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. 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 duties, ensuring that all transactions are recorded accurately and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Karunanidhi Street?

The current guideline value of Karunanidhi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 474 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 828% over the years.

What is the land classification of Karunanidhi Street?

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

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current rate of Rs 4,400 per sq.ft.