Guideline Value for KARUMARIAMMAN KOIL STREET

Karumariamman Koil Street guideline value

The current guideline value of Karumariamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karumariamman Koil Street has changed

The guideline value for Karumariamman Koil Street has seen several revisions over the years. In the 2003 revision, the value was Rs 85 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a 253% rise. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a 400% increase from the previous revision. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, which was a decline of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, and in the latest 2024 revision, it rose to Rs 1,700 per sq.ft, representing a 13% increase.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1900%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value of Karumariamman Koil Street.

• Kasthuri Garden: Rs 1,100 per sq.ft (2024)
• Kannappan Garden: Rs 1,100 per sq.ft (2024)
• Kannappa Naicker Garden: Rs 1,100 per sq.ft (2024)
• Kannanrukmani-Radha Garden: Rs 1,100 per sq.ft (2024)
• Kannaki Salai: Rs 2,200 per sq.ft (2024)
• Kayathiri Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumariamman Koil Street?

The Sub Registrar Office that covers Karumariamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthandi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures 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 is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting a total increase of 1900% over this period.

What is the median guideline value for streets in Uthandi?

The median guideline value for streets in Uthandi is Rs 1,700 per sq.ft, which is the same as the current guideline value for Karumariamman Koil Street.

What are the stamp duty and registration fees for property in Karumariamman Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Karumariamman Koil Street?

The Neelankarai Sub Registrar Office handles registrations for Karumariamman Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.