Guideline Value for KARMEL CROSS STREET

Karmel Cross Street guideline value

The current guideline value of Karmel Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Karmel Cross Street has changed

The guideline value of Karmel Cross Street has seen revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. The most recent revision in 2024 increased this figure to Rs 1,320 per sq.ft, marking a change of +10% from the 2012 value.

For the years 2023, 2017, 2007, 2003, and 2002, the register has no figure for this street in it.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Karmel Cross Street's 2024 figure below the median.

• Karmel Street: Rs 1,320 per sq.ft (2024)
• Karmel Street Extn: Rs 1,320 per sq.ft (2024)
• Karumariamman Nagar: Rs 1,320 per sq.ft (2024)
• Karumariamman Nagar Extn: Rs 1,320 per sq.ft (2024)
• Karumarianmman Main Road 1st Street: Rs 1,110 per sq.ft (2024)
• Karumarriamman Main Road 2nd Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Karmel Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karmel Cross Street?

The Sub Registrar Office that covers Karmel Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Pallikaranai. It is used to calculate the stamp duty and registration fees that are applicable when buying or selling property in the area.

When you register a property, the guideline value is compared with the sale price to determine the applicable duties. The higher value is used for calculating the stamp duty, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karmel Cross Street?

The current guideline value of Karmel Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value was Rs 1,200 per sq.ft in 2012 and increased to Rs 1,320 per sq.ft in 2024, reflecting a change of +10%. There are no figures for the years 2023, 2017, 2007, 2003, and 2002 in the register.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, ranging from Rs 1,110 to Rs 8,580 per sq.ft. Karmel Cross Street's value is below the median of Rs 1,650 per sq.ft.

How is the stamp duty calculated for properties in Karmel Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft would incur a total stamp duty and registration fee of Rs 1,18,800.

Which office handles property registrations for Karmel Cross Street?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Karmel Cross Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.