Guideline Value for KARIKAALAN STREET (WARD -6)

Karikaalan Street (Ward -6) guideline value

The current guideline value of Karikaalan Street (Ward -6) is Rs 1,320 per sq.ft. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Karikaalan Street (Ward -6) has changed

The guideline value for Karikaalan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased it to Rs 804 per sq.ft, marking a decline of 33%. However, the value rose significantly in the subsequent revisions, reaching Rs 1,200 per sq.ft in 2023 and then increasing to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,200 per sq.ft. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Karikaalan Street's 2024 figure above this median.

• Karikilaar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,320 per sq.ft (2024)
• Kannikoil Street Kattankolathur (Ward -18): Rs 660 per sq.ft (2024)
• Karpaga Vinayagapuram (Sa): Rs 550 per sq.ft (2024)
• Kanniamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Karumaan Kuttai (Ward -17): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Karikaalan Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karikaalan Street (Ward -6)?

The Sub Registrar Office that covers Karikaalan Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property, the guideline value will influence the stamp duty and registration fees payable. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karikaalan Street (Ward -6)?

The current guideline value of Karikaalan Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Karikaalan Street?

The land classification for Karikaalan Street (Ward -6) is Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Karikaalan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.