Guideline Value for KARAMBAKKAM 4 SQUARE JUNCTION

Karambakkam 4 Square Junction guideline value

The current guideline value of Karambakkam 4 Square Junction is Rs 3,030 per sq.ft, effective from 1 July 2024. This location is situated in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Karambakkam 4 Square Junction has changed

Looking at the historical revisions, the guideline value for this street has seen significant changes. The 2012 revision set the value at Rs 2,750 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,842 per sq.ft. The 2023 revision increased the value to Rs 2,750 per sq.ft, and the latest 2024 revision has raised it again to Rs 3,030 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street in the register.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, placing Karambakkam 4 Square Junction's 2024 figure above this median.

• Karambakkam 2nd Cross Street: Rs 3,030 per sq.ft (2024)
• Karambakkam Bramin Street: Rs 2,480 per sq.ft (2024)
• Karambakkam 1st Street: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Main Road: Rs 3,030 per sq.ft (2024)
• Karambakkam 1st Cross Street: Rs 3,030 per sq.ft (2024)
• Kanthasami Nagar Kantha Kannan Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Karambakkam 4 Square Junction

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value would be Rs 30,30,000. The stamp duty at 7% would be Rs 2,12,100, and the registration fee at 2% would be Rs 60,600, bringing the total to Rs 2,72,700. 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 Karambakkam 4 Square Junction?

The Sub Registrar Office that covers Karambakkam 4 Square Junction 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 further assistance.

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

The guideline value is an essential factor when buying or selling property in Karambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Karambakkam 4 Square Junction?

The current guideline value of Karambakkam 4 Square Junction is Rs 3,030 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 2,750 per sq.ft in 2012 to Rs 3,030 per sq.ft in 2024. The most notable change was a 49% increase from Rs 1,842 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2023.

What is the land classification for Karambakkam 4 Square Junction?

Karambakkam 4 Square Junction is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,72,700.

Which office handles property registrations in Karambakkam?

The Chennai South Joint I Sub Registrar Office handles property registrations for Karambakkam 4 Square Junction, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.