Guideline Value for KARUMAAN KUTTAI (WARD -17)

Karumaan Kuttai (Ward -17) guideline value

The current guideline value of Karumaan Kuttai (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Karumaan Kuttai (Ward -17) has changed

The guideline value for Karumaan Kuttai has undergone several revisions over the years. The earliest recorded value is from 2012, where it was set at Rs 500 per sq.ft. In 2017, the value changed to Rs 335 per sq.ft, marking a decrease of 33%. However, by 2023, it increased significantly to Rs 500 per sq.ft, and in the latest revision for 2024, it rose again to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Between 2017 and 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Karumaan Kuttai's 2024 figure below that median.

• Karumariamman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Karpaga Vinayagapuram (Sa): Rs 440 per sq.ft (2024)
• Karikilaar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karikaalan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,320 per sq.ft (2024)
• Kattapomman Salai (2nd Cross St) (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karumaan Kuttai (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000. Together, these fees would total Rs 49,500. 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 further assistance.

Which Sub Registrar Office covers Karumaan Kuttai (Ward -17)?

The Sub Registrar Office that covers Karumaan Kuttai (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Karumaan Kuttai (Ward -17)?

The current guideline value of Karumaan Kuttai (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, and then increasing to Rs 500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 550 per sq.ft.

What is the land classification for Karumaan Kuttai?

Karumaan Kuttai (Ward -17) is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karumaan Kuttai?

The Sub Registrar Office for Karumaan Kuttai (Ward -17) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.