Guideline Value for WEST MAMBALAM KARUNANITHI CROSS STREET

West Mambalam Karunanithi Cross Street guideline value

The current guideline value of West Mambalam Karunanithi Cross Street is Rs 2,750 per sq.ft. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of West Mambalam Karunanithi Cross Street has changed

Over the years, the guideline value for West Mambalam Karunanithi Cross Street has experienced several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2007 to 2012, there was an increase of 127%. From 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023. Finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 150%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing West Mambalam Karunanithi Cross Street's 2024 figure below that median.

• West Jones Road: Rs 8,250 per sq.ft (2024)
• Visaka Garden Street: Rs 4,400 per sq.ft (2024)
• Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Vijayarangam Chetty Street: Rs 3,300 per sq.ft (2024)
• Vijayaragavalu Chetty Street: Rs 3,300 per sq.ft (2024)
• Venugopal Chetty Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in West Mambalam Karunanithi Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Therefore, the total cost for stamp duty and registration would be Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Mambalam Karunanithi Cross Street?

The Sub Registrar Office that covers West Mambalam Karunanithi Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the higher of the guideline value or the sale price is used to determine the applicable stamp duty. This means that even if the sale price is lower than the guideline value, the buyer will still pay duty based on the guideline value, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of West Mambalam Karunanithi Cross Street?

The current guideline value of West Mambalam Karunanithi Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 150% over the period.

What is the land classification for West Mambalam Karunanithi Cross Street?

The land classification for West Mambalam Karunanithi Cross Street is Residential Class IV Type - III.

Where can I find the registration office for this street?

The registration office for West Mambalam Karunanithi Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.