Guideline Value for West Karikalan 2nd Street

West Karikalan 2nd Street guideline value

The current guideline value of West Karikalan 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of West Karikalan 2nd Street has changed

The guideline value for West Karikalan 2nd Street has seen several revisions over the years. In 2002, the value was Rs 344 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,250 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft again in 2023. The latest revision in 2024 set the value at Rs 3,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The value saw a significant drop of 33% from 2012 to 2017. The increase from 2007 to 2012 was 180%, and from 2003 to 2007, it surged by 219%. The change from 2002 to 2003 was 14%. Overall, from 2002 to 2024, the guideline value has increased by 1,034%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for West Karikalan 2nd Street.

• West Karikalan 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be 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, bringing the total to 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers West Karikalan 2nd Street?

The Sub Registrar Office that covers West Karikalan 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is documented accurately and legally.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable charges. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of West Karikalan 2nd Street?

The current guideline value of West Karikalan 2nd 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 344 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,034% over this period.

What is the land classification for West Karikalan 2nd Street?

West Karikalan 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What is the registration office for West Karikalan 2nd Street?

The registration office for West Karikalan 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the correct amount is paid during the registration process.