Guideline Value for Karikalan Street

Karikalan Street guideline value

The current guideline value of Karikalan Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Karikalan Street has changed

Over the years, the guideline value of Karikalan Street has seen significant changes. Starting from the 2003 revision, the guideline value was Rs 171 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 368%. The 2012 revision maintained the value at Rs 3,000 per sq.ft, and this figure remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. The latest revision in 2024 saw a further increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

In summary, the guideline value has increased dramatically from Rs 171 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1830%. Notably, there are no figures available for the years 2017 and 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Karikalan Street.

• Kanni Koil Street: Rs 2,750 per sq.ft (2024)
• Kannappan Street: Rs 2,100 per sq.ft (2024)
• Kannan Nagar Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kannan Nagar: Rs 3,300 per sq.ft (2024)
• Karunanithi Street: Rs 3,300 per sq.ft (2024)
• Kannadasan Street, Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. 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 Karikalan Street?

The Sub Registrar Office that covers Karikalan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Zaminpallavaram. It serves as a reference for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Karikalan Street?

The current guideline value of Karikalan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 171 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with several revisions in between.

What is the land classification for Karikalan Street?

Karikalan Street is classified as Residential Class I Type - II under the current guidelines.

Where can I find the Sub Registrar Office for Karikalan Street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property in Karikalan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000.