Guideline Value for Karunanithi Street (Lakshmipuram)

Karunanithi Street (Lakshmipuram) guideline value

The current guideline value for Karunanithi Street (Lakshmipuram) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karunanithi Street (Lakshmipuram) has changed

The guideline value for Karunanithi Street (Lakshmipuram) has undergone several revisions over the years. The oldest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, the most recent revision in 2024 saw an increase to Rs 1,300 per sq.ft, representing a 62% rise from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Karunanithi Street (Lakshmipuram) below this median value.

• Kasiammal Nagar: Rs 1,300 per sq.ft (2024)
• Kasiammal Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Karunanidhi Nagar: Rs 1,300 per sq.ft (2024)
• Kasthuri 1st Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 2nd Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 3rd Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanithi Street (Lakshmipuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanithi Street (Lakshmipuram)?

The Sub Registrar Office that covers Karunanithi Street (Lakshmipuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the transaction legally. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karunanithi Street (Lakshmipuram)?

The current guideline value of Karunanithi Street (Lakshmipuram) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and then increasing to Rs 1,300 per sq.ft in 2024.

What is the land classification of Karunanithi Street (Lakshmipuram)?

Karunanithi Street (Lakshmipuram) is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Karunanithi Street (Lakshmipuram).