Guideline Value for KARUMARIAMMAN NAGAR ANEXUE 1ST AND 2ND STREET

Karumariamman Nagar Anexue 1st And 2nd Street guideline value

The current guideline value for Karumariamman Nagar Anexue 1st And 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Koladi village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karumariamman Nagar Anexue 1st And 2nd Street has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a drop to Rs 536 per sq.ft in 2017. In 2023, the value increased to Rs 800 per sq.ft again, and the most recent revision in 2024 set the value at Rs 880 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value saw a significant increase of 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, comparing the values from 2012 to 2024, there has been a 10% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which places the guideline value of Karumariamman Nagar Anexue 1st And 2nd Street below the median.

• Karumariamman Nagar 3rd Street 1,2,3 Cross: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 2nd Street: Rs 880 per sq.ft (2024)
• Karumariamman 4th Street 1,2 Cross: Rs 880 per sq.ft (2024)
• Karumariamman 4th Street: Rs 880 per sq.ft (2024)
• Kaveri Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar Anexue 1st And 2nd Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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 Nagar Anexue 1st And 2nd Street?

The Sub Registrar Office that covers Karumariamman Nagar Anexue 1st And 2nd Street is the Chennai South Joint II Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Karumariamman Nagar Anexue 1st And 2nd Street?

The current guideline value for Karumariamman Nagar Anexue 1st And 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for this street?

Karumariamman Nagar Anexue 1st And 2nd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Karumariamman Nagar Anexue 1st And 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.