Guideline Value for KARUMARRIAMMAN MAIN ROAD 2ND STREET

Karumarriamman Main Road 2nd Street guideline value

The current guideline value of Karumarriamman Main Road 2nd 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 Karumarriamman Main Road 2nd Street has changed

The guideline value for Karumarriamman Main Road 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then to Rs 1,110 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Between the revisions, the changes were significant. From 2017 to 2023, the value rose by 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median guideline value in this area is Rs 1,650 per sq.ft, placing the 2024 guideline value of Karumarriamman Main Road 2nd Street below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the 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 to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Karumarriamman Main Road 2nd Street?

The Sub Registrar Office that covers Karumarriamman Main Road 2nd Street 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is sold, the guideline value helps in assessing the fair value for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Karumarriamman Main Road 2nd Street?

The current guideline value of Karumarriamman Main Road 2nd 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, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Karumarriamman Main Road 2nd Street is Residential Class IV Type - III.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total stamp duty and registration fee would be Rs 99,900, based on the current guideline value of Rs 11,10,000.

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

The Sub Registrar Office for Karumarriamman Main Road 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.