Guideline Value for KARIKILAAR STREET (WARD -6)

Karikilaar Street (Ward -6) guideline value

The current guideline value of Karikilaar Street (Ward -6) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 Karikilaar Street (Ward -6) has changed

The guideline value for Karikilaar Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 1,321 per sq.ft, representing a 10% increase from the previous year.

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

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, positioning Karikilaar Street above that median.

• Karikaalan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,321 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 660 per sq.ft (2024)
• Karumaan Kuttai (Ward -17): Rs 660 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 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, making the total fees Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ninna Karai, as it helps determine the official value of the property for registration purposes. When a property is sold, the buyer and seller must consider the guideline value to calculate applicable duties and fees.

During the property registration process, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

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 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024. Overall, the value has increased by 10% from 2012 to 2024.

What is the land classification for Karikilaar Street?

The land classification for Karikilaar Street is Residential Special Type - V. This classification is important for determining the use and regulations applicable to the property.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,21,000, the stamp duty would be calculated at 7% of that amount.