Guideline Value for Shrinivasa Nagar (Karukku)

Shrinivasa Nagar (Karukku) guideline value

The current guideline value of Shrinivasa Nagar (Karukku) is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Pattravakkam village and falls under the Konnur SRO. The land classification is Residential Class II Type - I.

How the guideline value of Shrinivasa Nagar (Karukku) has changed

The guideline value for Shrinivasa Nagar (Karukku) has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a remarkable increase of 367%. However, this was followed by a decrease to Rs 938 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,500 per sq.ft in 2024, reflecting a 7% increase.

There are no registered figures for Shrinivasa Nagar (Karukku) for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 400%, showcasing significant changes over the years.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value is Rs 1,500 per sq.ft, which is equal to the current guideline value of Shrinivasa Nagar (Karukku).

• Shrinivasa Nagar (A) Jeyanthi Nagar: Rs 1,500 per sq.ft (2024)
• Sivakami Ammal Street: Rs 1,100 per sq.ft (2024)
• Sivapuram: Rs 1,500 per sq.ft (2024)
• Selva Nagar: Rs 1,500 per sq.ft (2024)
• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)
• Station Road: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shrinivasa Nagar (Karukku)

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shrinivasa Nagar (Karukku)?

The Sub Registrar Office that covers Shrinivasa Nagar (Karukku) is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Pattravakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures transparency and helps in preventing undervaluation during property transactions.

Frequently asked questions

What is the current guideline value of Shrinivasa Nagar (Karukku)?

The current guideline value of Shrinivasa Nagar (Karukku) is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the land classification of Shrinivasa Nagar (Karukku)?

The land classification of Shrinivasa Nagar (Karukku) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Shrinivasa Nagar (Karukku)?

The Sub Registrar Office for Shrinivasa Nagar (Karukku) is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Shrinivasa Nagar (Karukku)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty at 7% would be Rs 1,05,000.