Guideline Value for Karikalan Street

Karikalan Street guideline value

The current guideline value of Karikalan Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Karikalan Street has changed

The guideline value for Karikalan Street has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft. It increased to Rs 294 per sq.ft in 2003, marking a rise of 59%. The value continued to grow, reaching Rs 350 per sq.ft in 2007, which is a 19% increase. By 2017, the guideline value had surged to Rs 1,474 per sq.ft, reflecting a remarkable growth of 321% from the previous revision. The 2023 revision set the value at Rs 2,200 per sq.ft, showing a 49% increase from 2017. The latest revision in 2024 has further increased the guideline value to Rs 2,420 per sq.ft, representing a 10% rise from 2023.

It is important to note that there is no figure available for the 2012 revision for Karikalan Street in the register.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current value of Karikalan Street.

• Kasi Garden: Rs 2,420 per sq.ft (2024)
• Kattabooman Street: Rs 2,420 per sq.ft (2024)
• Kambar Street: Rs 2,420 per sq.ft (2024)
• Kamaraj Street: Rs 2,420 per sq.ft (2024)
• Kora Masilamani Street: Rs 1,320 per sq.ft (2024)
• Krishnan Koil Street: Rs 2,200 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 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karikalan Street?

The Sub Registrar Office that covers Karikalan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as the basis for calculating the stamp duty and registration fees, which are essential costs incurred when buying or selling property.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property based on the established guideline rates.

Frequently asked questions

What is the current guideline value of Karikalan Street?

The current guideline value of Karikalan Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, which is an overall increase of 1,208% over the years.

What is the stamp duty rate for property transactions in Karikalan Street?

The stamp duty rate for property transactions in Karikalan Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Karikalan Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What other streets in Thiruneermalai have the same guideline value?

Other streets in Thiruneermalai, such as Kasi Garden, Kattabooman Street, Kambar Street, and Kamaraj Street, also have a guideline value of Rs 2,420 per sq.ft in 2024.