Guideline Value for Karunya street(Srinivasa nagar)

Karunya street(Srinivasa nagar) guideline value

The current guideline value of Karunya street (Srinivasa nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karunya street(Srinivasa nagar) has changed

The guideline value for Karunya street (Srinivasa nagar) has seen several revisions over the years. In 2007, the value was Rs 611 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. In 2023, the value rose to Rs 1,200 per sq.ft, and the most recent revision in 2024 set it at Rs 1,300 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 8%. Overall, from 2007 to 2024, the guideline value has increased by 113%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, which is equal to the 2024 figure for Karunya street (Srinivasa nagar).

• Karunya Cross street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• kasilingam Cross Street (Iyappan nagar etxn.): Rs 1,700 per sq.ft (2024)
• Karumari Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Karunya street(Srinivasa nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunya street(Srinivasa nagar)?

The Sub Registrar Office that covers Karunya street (Srinivasa nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable charges. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Karunya street(Srinivasa nagar)?

The current guideline value of Karunya street (Srinivasa nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 611 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification for Karunya street(Srinivasa nagar)?

The land classification for Karunya street (Srinivasa nagar) is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Karunya street(Srinivasa nagar)?

The Sub Registrar Office for Karunya street (Srinivasa nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ayappakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.