Guideline Value for KARIMEDU 1ST STREET

Karimedu 1st Street guideline value

The current guideline value of Karimedu 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Karimedu 1st Street has changed

The guideline value for Karimedu 1st Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which was a significant increase of 300% from the previous revision. However, the value dropped to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, which was a 49% increase from 2017. Finally, the current 2024 revision sets the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the 2002 revision for this street. Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Karimedu 1st Street's 2024 figure below that median.

• Karimedu 2nd Street: Rs 2,200 per sq.ft (2024)
• Karimedu: Rs 2,200 per sq.ft (2024)
• Karimedu 3rd Street: Rs 2,200 per sq.ft (2024)
• Karimedu 4th Street: Rs 2,200 per sq.ft (2024)
• Karimedu 5th Street: Rs 2,200 per sq.ft (2024)
• Karnatic Mill Colony: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karimedu 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karimedu 1st Street?

The Sub Registrar Office that covers Karimedu 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karimedu 1st Street?

The current guideline value of Karimedu 1st Street is Rs 2,200 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 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024. The highest increase was from 2007 to 2012, where it rose by 300%.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, which is above the current value of Karimedu 1st Street.

What are the stamp duty and registration fees for property in Karimedu 1st Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Karimedu 1st Street located?

The Sub Registrar Office covering Karimedu 1st Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.