Guideline Value for KARUMARIAMMAN NAGAR EXTN

Karumariamman Nagar Extn guideline value

The current guideline value of Karumariamman Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Karumariamman Nagar Extn has changed

The guideline value for Karumariamman Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the guideline value of Karumariamman Nagar Extn below that median.

• Karumarianmman Main Road 1st Street: Rs 1,110 per sq.ft (2024)
• Karumariamman Nagar: Rs 1,320 per sq.ft (2024)
• Karumarriamman Main Road 2nd Street: Rs 1,110 per sq.ft (2024)
• Karmel Street Extn: Rs 1,320 per sq.ft (2024)
• Karmel Street: Rs 1,320 per sq.ft (2024)
• Karmel Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 Nagar Extn?

The Sub Registrar Office that covers Karumariamman Nagar Extn is the Chennai South Joint I Sub Registrar Office, 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 Pallikaranai

The guideline value is an important factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transfers.

When buying or selling a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the registration process is aligned with the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar Extn?

The current guideline value of Karumariamman Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Karumariamman Nagar Extn?

Karumariamman Nagar Extn is classified as Residential Class IV Type - II.

What are the stamp duty rates applicable in Karumariamman Nagar Extn?

The stamp duty rate applicable in Karumariamman Nagar Extn is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karumariamman Nagar Extn?

The Sub Registrar Office for Karumariamman Nagar Extn is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.