Guideline Value for Karuneegar Street (Main)

Karuneegar Street (Main) guideline value

The current guideline value of Karuneegar Street (Main) in Adambakkam village, under the Alandur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Karuneegar Street (Main) has changed

Over the years, the guideline value for Karuneegar Street (Main) has seen significant fluctuations. The earliest recorded figure in 2002 was Rs 434 per sq.ft. This value increased dramatically to Rs 1,800 per sq.ft in 2007, marking a 315% rise. In 2012, the value adjusted to Rs 5,000 per sq.ft, which represented a 178% increase from the previous revision. However, the value then fell by 33% to Rs 3,350 per sq.ft in 2017.

In the subsequent revisions, the guideline value rose to Rs 5,000 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year. Notably, there is no recorded figure for this street in 2003.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Karuneegar Street (Main) is above this median, indicating its higher valuation compared to other streets in the village.

• Kavery Street: Rs 3,900 per sq.ft (2024)
• Karikalan Street Main: Rs 3,900 per sq.ft (2024)
• Karikalan East 2nd Street (East Karikalan 2nd street): Rs 3,900 per sq.ft (2024)
• Karikalan East 1st Street (East Karikalan Ist street): Rs 3,900 per sq.ft (2024)
• Karikalan 5th Street: Rs 3,900 per sq.ft (2024)
• Karikalan 4th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Karuneegar Street (Main)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karuneegar Street (Main)?

The Sub Registrar Office that covers Karuneegar Street (Main) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum price at which a property can be registered. When buying or selling a property, the transaction must be registered at the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

This value is periodically revised by the Registration Department to reflect changes in the market and land use, providing a standardized basis for property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karuneegar Street (Main)?

The current guideline value of Karuneegar Street (Main) is Rs 5,500 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 434 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1167% over the years.

What is the registration office for Karuneegar Street (Main)?

The registration office for Karuneegar Street (Main) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find more information about the guideline values in Adambakkam?

More information about guideline values in Adambakkam can be found through the Registration Department's guideline value register and by visiting the relevant links for other streets in the area.