Guideline Value for KARIMEDU

Karimedu guideline value

The current guideline value of Karimedu, located in Chengalpattu Natham village under the Chengleput Joint II SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Karimedu has changed

The guideline value of Karimedu has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and it has now risen to Rs 1,100 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. The change from the 2023 to the 2024 revision is a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Karimedu is below this median.

• Kathan Street: Rs 1,980 per sq.ft (2024)
• Kavarai Street Ward- 2: Rs 1,980 per sq.ft (2024)
• Kavarai Street Ward-4: Rs 1,980 per sq.ft (2024)
• Kancheepuram High Road: Rs 2,750 per sq.ft (2024)
• Kesavanar Street: Rs 1,980 per sq.ft (2024)
• Kolunthuyamman Kovil Street: Rs 3,850 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. 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 more details.

Which Sub Registrar Office covers Karimedu?

The Karimedu area falls under the jurisdiction of 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 Chengalpattu Natham

The guideline value is a critical factor during property transactions in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the official worth of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karimedu?

The current guideline value of Karimedu is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Karimedu?

Karimedu is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Karimedu?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles property registrations for Karimedu?

The Chengleput Joint II Sub Registrar Office handles property registrations for Karimedu, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.