Guideline Value for West Karikalan 1st Street

West Karikalan 1st Street guideline value

The current guideline value of West Karikalan 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of West Karikalan 1st Street has changed

The guideline value for West Karikalan 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 328 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped significantly to Rs 1,250 per sq.ft, reflecting a 234% increase. The 2012 revision saw a slight decline to Rs 3,500 per sq.ft, a decrease of 33%. However, in 2017, the value rose again to Rs 2,345 per sq.ft. The most recent revisions show that the guideline value increased to Rs 3,500 per sq.ft in 2023 and further to Rs 3,900 per sq.ft in 2024, an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 1089%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which aligns with the current guideline value of West Karikalan 1st Street.

• West Karikalan 2nd Street: Rs 3,900 per sq.ft (2024)
• West Karikalan Street: Rs 3,900 per sq.ft (2024)
• West velalar street: Rs 5,000 per sq.ft (2024)
• Yadhaval Lane: Rs 3,900 per sq.ft (2024)
• Yadhaval street: Rs 3,900 per sq.ft (2024)
• Yamuna Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in West Karikalan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers West Karikalan 1st Street?

The Sub Registrar Office that covers West Karikalan 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Adambakkam. It determines the amount of stamp duty and registration fees payable at the time of registration, ensuring that the transaction is legally recognized and documented.

When buying or selling property, the guideline value helps in establishing a fair value for the property, which is essential for both the buyer and seller. It is important to refer to the latest guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of West Karikalan 1st Street?

The current guideline value of West Karikalan 1st Street is Rs 3,900 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 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1089% over the years.

What are the stamp duty and registration fees for property in West Karikalan 1st Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000 in fees.

Which Sub Registrar Office covers West Karikalan 1st Street?

The Alandur Sub Registrar Office covers West Karikalan 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of West Karikalan 1st Street?

West Karikalan 1st Street is classified as Residential Class I Type - III, indicating its suitability for residential development.