Guideline Value for KARIMEDU 2ND STREET

Karimedu 2nd Street guideline value

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

How the guideline value of Karimedu 2nd Street has changed

The guideline value for Karimedu 2nd Street has seen several revisions over the years. In 2003, the value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking an increase of approximately 36%. The subsequent revision in 2012 saw the value rise significantly to Rs 2,000 per sq.ft, reflecting a 300% increase. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, a 10% increase from the previous year.

The register has no figure for this street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, 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 guideline value for these streets is Rs 2,700 per sq.ft, placing Karimedu 2nd Street's 2024 figure below that median.

• Karimedu 1st Street: 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: 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total 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 calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karimedu 2nd Street?

The Sub Registrar Office that covers Karimedu 2nd 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 when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is often considered the minimum value for transactions.

When a property is sold, the guideline value helps ensure that the transaction is registered at a value that reflects the official rates set by the government. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Karimedu 2nd Street?

The current guideline value of Karimedu 2nd 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 from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 496% over the years.

What is the stamp duty for property in Karimedu 2nd Street?

The stamp duty for property in Karimedu 2nd Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Karimedu 2nd Street located?

The Sub Registrar Office for Karimedu 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Karimedu 2nd Street?

The land classification for Karimedu 2nd Street is Residential Class IV Type - I.