Guideline Value for KARUMARIAMMAN 4TH STREET

Karumariamman 4th Street guideline value

The current guideline value of Karumariamman 4th Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Karumariamman 4th Street has changed

The guideline value for Karumariamman 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was followed by a decrease to Rs 536 per sq.ft in the 2017 revision. The value then increased significantly to Rs 800 per sq.ft in the 2023 revision, and the most recent revision in 2024 has raised it to Rs 880 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 guideline value of Karumariamman 4th Street below this median.

• Karumariamman 4th Street 1,2 Cross: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 2nd Street: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 3rd Street 1,2,3 Cross: Rs 880 per sq.ft (2024)
• Karumariamman Nagar Anexue 1st And 2nd Street: Rs 880 per sq.ft (2024)
• Kaveri Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total of Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karumariamman 4th Street?

The Sub Registrar Office that covers Karumariamman 4th Street is the Chennai South Joint II 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 Koladi

The guideline value is a crucial factor during the registration of property transactions in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karumariamman 4th Street?

The current guideline value of Karumariamman 4th Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Karumariamman 4th Street?

Karumariamman 4th Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Karumariamman 4th Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Koladi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.