Guideline Value for KARIKILAAR STREET (WARD -6)

Karikilaar Street (Ward -6) guideline value

The current guideline value of Karikilaar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

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

The guideline value for Karikilaar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Karikilaar Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making the 2024 figure for Karikilaar Street above this median.

• Karikaalan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,320 per sq.ft (2024)
• Karpaga Vinayagapuram (Sa): Rs 440 per sq.ft (2024)
• Kannikoil Street Kattankolathur (Ward -18): Rs 550 per sq.ft (2024)
• Kanniamman Koil Street (Ward -18): Rs 550 per sq.ft (2024)
• Karumaan Kuttai (Ward -17): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Karikilaar 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 amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for a more detailed estimate.

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

The Sub Registrar Office covering Karikilaar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the transaction for tax purposes. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers in Kattankollatur.

Frequently asked questions

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

The current guideline value of Karikilaar 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 are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 13,20,000, with stamp duty at Rs 92,400 and registration fees at Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Karikilaar Street?

The Chengleput Joint II Sub Registrar Office covers Karikilaar Street (Ward -6), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Karikilaar Street?

The land classification for Karikilaar Street (Ward -6) is Residential Special Type - V, indicating its designated use for residential purposes.