Guideline Value for Karunanithi Nagar

Karunanithi Nagar guideline value

The current guideline value of Karunanithi Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Karunanithi Nagar has changed

The guideline value for Karunanithi Nagar has seen significant changes over the years. In 2002, the value was Rs 203 per sq.ft, which increased to Rs 223 per sq.ft in 2003. Following this, the value rose dramatically to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,800 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 saw a notable increase of 338%, while the value dropped by 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 1,772%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Karunanithi Nagar is below this median.

• Karnan Street: Rs 5,500 per sq.ft (2024)
• Kanniappan Street: Rs 7,100 per sq.ft (2024)
• Kannathamman Koil Street: Rs 7,100 per sq.ft (2024)
• Kannammal Street: Rs 7,100 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanithi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. The duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karunanithi Nagar?

The Sub Registrar Office that covers Karunanithi Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. It's important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Karunanithi Nagar?

The current guideline value of Karunanithi Nagar is Rs 3,800 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 203 in 2002 to Rs 3,800 in 2024, with various increases and decreases in between.

What is the land classification for Karunanithi Nagar?

Karunanithi Nagar is classified as Residential Class II Type - I.

Where can I find the registration office for Karunanithi Nagar?

The registration office for Karunanithi Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Karunanithi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,800 per sq.ft incurs a total guideline value of Rs 38,00,000, leading to specific stamp duty and registration fees.