Guideline Value for Karigalan 1st Street

Karigalan 1st Street guideline value

The current guideline value of Karigalan 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Karigalan 1st Street has changed

The guideline value for Karigalan 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the 2024 guideline value of Karigalan 1st Street is below this median.

• Karigalan 2nd Street: Rs 1,600 per sq.ft (2024)
• Karigalan Street: Rs 1,600 per sq.ft (2024)
• Karpagam Avenue: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue 1st Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue 2nd Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karigalan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karigalan 1st Street?

The Sub Registrar Office that covers Karigalan 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the correct fees are paid. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Karigalan 1st Street?

The current guideline value of Karigalan 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, indicating that Karigalan 1st Street's 2024 value is below this median.

What are the stamp duty and registration fees for properties in Karigalan 1st Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles the registration for Karigalan 1st Street?

The Selaiyur Sub Registrar Office handles registrations for Karigalan 1st Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.