Guideline Value for KARUMARIAMMAN KOIL STREET (WARD -15)

Karumariamman Koil Street (Ward -15) guideline value

The current guideline value of Karumariamman Koil Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karumariamman Koil Street (Ward -15) has changed

Since the 2012 revision, the guideline value for Karumariamman Koil Street has seen various changes. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 268 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 400 per sq.ft in the 2023 revision, followed by a further rise to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 to 2024 change was a notable increase of 10%, while the jump from 2017 to 2023 saw a significant rise of 49%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value across these streets is Rs 1,100 per sq.ft, placing the 2024 guideline value of Karumariamman Koil Street below this median.

• Karumaan Kuttai (Ward -17): Rs 550 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 Karumariamman Koil Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karumariamman Koil Street (Ward -15)?

The Sub Registrar Office that covers Karumariamman Koil Street (Ward -15) 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 Kattankollatur

The guideline value plays a crucial role in the registration process of property transactions in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is utilized to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Karumariamman Koil Street?

The current guideline value of Karumariamman Koil Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Karumariamman Koil Street?

Karumariamman Koil Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 39,600.

Which office handles registrations for Karumariamman Koil Street?

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