Guideline Value for KARIGALAN STREET

Karigalan Street guideline value

The current guideline value of Karigalan Street in Nemilicherry village, under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Karigalan Street has changed

The guideline value for Karigalan Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Karigalan Street.

• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kavery Street: Rs 2,160 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karigalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total cost for these fees Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karigalan Street?

The Sub Registrar Office that covers Karigalan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Nemilicherry. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs involved in the registration process. Proper understanding of these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Karigalan Street?

The current guideline value of Karigalan Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Karigalan Street?

Karigalan Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Karigalan Street?

The Sub Registrar Office for Karigalan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Karigalan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,51,200 based on the current guideline value.