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 Sattamangalam 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 of Karumariamman Koil Street has undergone several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where 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, and further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase, illustrating the fluctuating nature of the guideline value over the years.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Karumariamman Koil Street's 2024 figure below that median.

• Karumaan Kuttai (Ward -17): Rs 550 per sq.ft (2024)
• Karpaga Vinayagapuram (Sa): Rs 660 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 amount to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total cost of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering 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 Sattamangalam

The guideline value plays a crucial role in the registration process of property transactions in Sattamangalam. 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 helps both buyers and sellers understand the official valuation of the property. This valuation is essential for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

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 several times, with notable revisions in 2012, 2017, 2023, and 2024. The value decreased 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 for Karumariamman Koil Street?

The land classification for Karumariamman Koil Street is Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 440 per sq.ft, the total costs 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 (Ward -15). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.