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 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

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

Over the years, the guideline value of Karumariamman Koil Street has undergone several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Karumariamman Koil Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Karumariamman Koil Street's 2024 value below that median.

• Karumaan Kuttai (Ward -17): Rs 660 per sq.ft (2024)
• Karpaga Vinayagapuram (Sa): Rs 440 per sq.ft (2024)
• Karikilaar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Karikaalan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Karaikal Ammiyar Street (Per): Rs 1,321 per sq.ft (2024)
• Kattapomman Salai (2nd Cross St) (Ward -8): Rs 1,321 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. 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 details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ninna Karai. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

Buyers and sellers must be aware that the guideline value may differ from the sale price. The duty is charged based on the higher of the two values, which can impact the overall cost of the transaction.

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 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Karumariamman Koil Street?

The land classification for Karumariamman Koil Street (Ward -15) is Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.