Guideline Value for Karunya Street

Karunya Street guideline value

The current guideline value of Karunya Street in Kaspapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Karunya Street has changed

Over the years, the guideline value for Karunya Street has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that Karunya Street's 2024 guideline value is below this median.

• Kaspapuram Main Road: Rs 660 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Karunya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 details.

Which Sub Registrar Office covers Karunya Street?

The Sub Registrar Office that covers Karunya Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kaspapuram. It serves as the minimum price for which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Karunya Street?

The current guideline value of Karunya Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Karunya Street?

Karunya Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What is the median guideline value for streets in Kaspapuram?

The median guideline value for the 76 streets in Kaspapuram is Rs 1,100 per sq.ft, which is higher than the current value of Karunya Street.

Where can I find more information about stamp duty and registration fees?

You can use the stamp duty and registration fee calculator for detailed information regarding the fees applicable to your property transaction.