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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

Over the years, the guideline value for Karumariamman Koil Street has seen several revisions. In 2012, the guideline value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 400 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, with values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, indicating that the guideline value of Karumariamman Koil Street is 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, charged at 7%, would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total cost for stamp duty and registration fee would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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 Panangottur

The guideline value is a crucial factor when buying or selling property in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, thereby ensuring that the government receives the appropriate revenue from property transactions.

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?

Since 2012, the guideline value has changed from Rs 400 per sq.ft to Rs 440 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 268 per sq.ft in 2017 and an increase back to Rs 400 per sq.ft in 2023.

What is the land classification for Karumariamman Koil Street?

The land classification for Karumariamman Koil Street is Residential Class II Type - II.

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, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.