Guideline Value for West Karikalan Street

West Karikalan Street guideline value

The current guideline value of West Karikalan 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 Street has changed

The guideline value for West Karikalan Street has seen several revisions over the years. In 2002, the value was Rs 388 per sq.ft, which increased to Rs 443 per sq.ft in 2003, marking a 14% rise. The value continued to climb significantly, reaching Rs 1,250 per sq.ft in 2007, a remarkable increase of 182%. However, between 2007 and 2012, the guideline value experienced a decline to Rs 3,500 per sq.ft, a drop of 33%. In 2017, the value was revised to Rs 2,345 per sq.ft, but by 2023, it rose again to Rs 3,500 per sq.ft, before reaching the current rate of Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 905%. The register has no figures for the years between these revisions.

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 is equal to the guideline value of West Karikalan Street for 2024.

• West Karikalan 2nd Street: Rs 3,900 per sq.ft (2024)
• West Karikalan 1st 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 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, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Karikalan Street?

The Sub Registrar Office that covers West Karikalan 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 in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable charges. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of West Karikalan Street?

The current guideline value of West Karikalan 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 388 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 905% over this period.

What are the other streets with the same guideline value in Adambakkam?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include West Karikalan 2nd Street, West Karikalan 1st Street, Yadhaval Lane, Yadhaval street, and Yamuna Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for West Karikalan Street?

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