Guideline Value for KARIMEDU

Karimedu guideline value

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

How the guideline value of Karimedu has changed

The guideline value for Karimedu has seen significant changes over the years. In 2002, the guideline value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following that, the value rose to Rs 500 per sq.ft in 2007, marking a 36% increase from the previous revision. The value then surged by 300% to reach Rs 2,000 per sq.ft in 2012. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017.

In 2023, the guideline value was Rs 2,000 per sq.ft, and it increased by 10% to Rs 2,200 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, indicating that Karimedu's 2024 figure is below that median.

• Karimedu 1st Street: Rs 2,200 per sq.ft (2024)
• Karimedu 2nd 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 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

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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karimedu?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer and seller must ensure that the transaction is registered at the appropriate Sub Registrar Office, where the guideline value will be referenced to calculate the necessary fees. This ensures that all transactions are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Karimedu?

The current guideline value of Karimedu 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 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 555%.

What are the other streets in Perambur with similar guideline values?

Other streets in Perambur with a guideline value of Rs 2,200 per sq.ft include Karimedu 1st Street, Karimedu 2nd Street, Karimedu 3rd Street, Karimedu 4th Street, and Karimedu 5th Street.

What is the stamp duty for property in Karimedu?

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

Where is the Sub Registrar Office for Karimedu located?

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