Guideline Value for T.M.P. Nagar Karunanithi Street

T.M.P. Nagar Karunanithi Street guideline value

The current guideline value of T.M.P. Nagar Karunanithi Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of T.M.P. Nagar Karunanithi Street has changed

Since the first recorded revision in 2003, the guideline value has seen significant changes. In 2003, the value was Rs 400 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a 200% rise. Following this, the value decreased to Rs 3,500 per sq.ft in 2012, a drop of 33%. In 2017, the value rose again to Rs 2,345 per sq.ft, and then increased substantially to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, a 9% increase from the previous year.

It is important to note that there is no figure recorded for T.M.P. Nagar Karunanithi Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 850%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for T.M.P. Nagar Karunanithi Street is below this median.

• T.M.P. Nagar Karnan Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Masuthi Street: Rs 5,500 per sq.ft (2024)
• T.M.P. Nagar Kambar Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Nehruji Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar kamarajar Street: Rs 3,800 per sq.ft (2024)
• T.M.P. Nagar Nethaji Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.M.P. Nagar Karunanithi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 accurate calculations.

Which Sub Registrar Office covers T.M.P. Nagar Karunanithi Street?

The Sub Registrar Office that covers T.M.P. Nagar Karunanithi Street is the Konnur Sub Registrar Office, located at 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 Mugappair

The guideline value is a crucial factor in property transactions in Mugappair, as it determines the minimum value at which a property can be registered. Buyers and sellers must refer to the guideline value to understand the costs associated with property registration.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of T.M.P. Nagar Karunanithi Street?

The current guideline value of T.M.P. Nagar Karunanithi Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 850% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles the registration of properties in T.M.P. Nagar Karunanithi Street?

The Konnur Sub Registrar Office handles the registration of properties in T.M.P. Nagar Karunanithi Street, located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for T.M.P. Nagar Karunanithi Street?

T.M.P. Nagar Karunanithi Street is classified as Residential Class II Type - I.