Guideline Value for KARUMARIANMMAN MAIN ROAD 1ST STREET

Karumarianmman Main Road 1st Street guideline value

The current guideline value of Karumarianmman Main Road 1st Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Karumarianmman Main Road 1st Street has changed

The guideline value for Karumarianmman Main Road 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,000 per sq.ft. This value decreased to Rs 670 per sq.ft in the 2017 revision. However, the most recent revision in 2024 shows a significant increase to Rs 1,110 per sq.ft, marking a 66% rise from the 2017 figure. Overall, from 2012 to 2024, there has been an increase of 11%.

There are no recorded figures for this street in the revisions of 2023, 2007, 2003, and 2002. The changes in the guideline value reflect the fluctuations in property assessments over the years, particularly the notable rise from 2017 to 2024.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median value for these streets is Rs 1,650 per sq.ft, indicating that the guideline value for Karumarianmman Main Road 1st Street is below this median.

• Karumariamman Nagar Extn: Rs 1,320 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 Karumarianmman Main Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total charges to Rs 99,900. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumarianmman Main Road 1st Street?

The Sub Registrar Office that covers Karumarianmman Main Road 1st Street is the Chennai South Joint I Sub Registrar Office. The address is 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 essential factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When a property transaction occurs, the registration office uses the guideline value to calculate the necessary fees, ensuring that the transaction is documented according to the prevailing regulations. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Karumarianmman Main Road 1st Street?

The current guideline value of Karumarianmman Main Road 1st Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then increased to Rs 1,110 per sq.ft in 2024. This reflects a 66% increase from 2017 to 2024.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have guideline values 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.

What fees are applicable when registering property in this area?

When registering property in Karumarianmman Main Road 1st Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Karumarianmman Main Road 1st Street is located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information online.