Guideline Value for Karuneekar Nagar

Karuneekar Nagar guideline value

The current guideline value of Karuneekar Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Somangalam_B village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Karuneekar Nagar has changed

The guideline value for Karuneekar Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 167 per sq.ft. This remained unchanged until the 2023 revision, which also recorded a value of Rs 250 per sq.ft, reflecting a 50% increase from the 2017 figure. The current 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

It's important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 50%.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value of Karuneekar Nagar.

• Kasthuri Nagar: Rs 400 per sq.ft (2024)
• Kanthapuri: Rs 400 per sq.ft (2024)
• KR Garden: Rs 250 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 per sq.ft (2024)
• Kulakkarai street: Rs 400 per sq.ft (2024)
• Kundrathur main road: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Karuneekar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karuneekar Nagar?

The Sub Registrar Office covering Karuneekar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Somangalam_B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value acts as a baseline for transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Karuneekar Nagar?

The current guideline value of Karuneekar Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2023 to 2024, and it increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What are the other guideline values in Somangalam_B?

In Somangalam_B, the guideline values range from Rs 150 to Rs 2,500 per sq.ft. The median value is Rs 250 per sq.ft, which is the same as the guideline value for Karuneekar Nagar.

What stamp duty and registration fees apply to properties in Karuneekar Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where can I find the Sub Registrar Office for Karuneekar Nagar?

The Sub Registrar Office for Karuneekar Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.