Guideline Value for KARUMARI AMMAN NAGAR

Karumari Amman Nagar guideline value

The current guideline value of Karumari Amman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Karumari Amman Nagar has changed

Since the 2007 revision, the guideline value has significantly increased. The 2007 revision set the value at Rs 100 per sq.ft, which then rose to Rs 600 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 402 per sq.ft in 2017. The value remained at Rs 600 per sq.ft for both the 2023 and 2024 revisions, indicating no change in these years.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The most substantial increase occurred from 2007 to 2012, with a rise of 500%. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of Karumari Amman Nagar aligns with this median.

• Karthik Avenue: Rs 600 per sq.ft (2024)
• Karthiga Puram: Rs 700 per sq.ft (2024)
• Krishnanagar: Rs 600 per sq.ft (2024)
• Kamadhenu Avenue: Rs 700 per sq.ft (2024)
• J.P.Jai Residency: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Amman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 accurate calculations.

Which Sub Registrar Office covers Karumari Amman Nagar?

The Sub Registrar Office that covers Karumari Amman Nagar is 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 Kolathur

The guideline value plays a crucial role during the registration process of property transactions in Kolathur. It is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value ensures that the transaction is recorded at a value recognized by the government, which helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar?

The current guideline value of Karumari Amman Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, notably increasing from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft for both 2023 and 2024.

What is the land classification of Karumari Amman Nagar?

Karumari Amman Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Karumari Amman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.