Guideline Value for Karunanithi Nagar

Karunanithi Nagar guideline value

The current guideline value of Karunanithi Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Karunanithi Nagar has changed

The guideline value for Karunanithi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This figure increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, it then decreased to Rs 1,474 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,420 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 505%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Karunanithi Nagar's 2024 figure below that median.

• Karumarriyamman Koil Nalvar Street: Rs 3,850 per sq.ft (2024)
• Karumarriyamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 1st Street: Rs 4,400 per sq.ft (2024)
• Karpagambal Street: Rs 2,380 per sq.ft (2024)
• Kannammal Street: Rs 2,970 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 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Karunanithi Nagar?

The Sub Registrar Office that covers Karunanithi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are assessed fairly according to the established values.

When a property is sold, the guideline value is used to determine the applicable duties, which are charged based on the higher of the guideline value or the sale price. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Karunanithi Nagar?

The current guideline value of Karunanithi Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 505% over this period.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with Karunanithi Nagar's current value being below this median.

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

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations in Karunanithi Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Karunanithi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.