Guideline Value for Karuneegar Street

Karuneegar Street guideline value

The current guideline value of Karuneegar Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Karuneegar Street has changed

The guideline value for Karuneegar Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,460 per sq.ft. This figure saw a significant increase in 2012, where it remained at Rs 4,500 per sq.ft. There was no revision recorded for the years 2017, 2003, and 2002.

In 2023, the guideline value was again Rs 4,500 per sq.ft, but it increased by 9% to Rs 4,900 per sq.ft in the 2024 revision. Overall, from 2007 to 2024, the guideline value has increased by 236%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which matches the 2024 guideline value of Karuneegar Street.

• Kasi Estate: Rs 6,600 per sq.ft (2024)
• Kasi Estate 1st Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 2nd Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 3rd Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 4th Street: Rs 6,600 per sq.ft (2024)
• Kasi Estate 5th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Karuneegar Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karuneegar Street?

The Sub Registrar Office that covers Karuneegar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of properties in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Karuneegar Street?

The current guideline value of Karuneegar Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 236% over the years.

What is the stamp duty for properties on Karuneegar Street?

The stamp duty for properties on Karuneegar Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is the same as the current value for Karuneegar Street.