Guideline Value for Karikalan Street

Karikalan Street guideline value

The current guideline value of Karikalan Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Karikalan Street has changed

The guideline value for Karikalan Street has undergone several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 283%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The value then rose again to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase, and currently stands at Rs 2,530 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Karikalan Street's 2024 figure above this median.

• Kannan St: Rs 2,530 per sq.ft (2024)
• Kannan Avenue: Rs 2,530 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kalyan Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 4-th St: Rs 1,100 per sq.ft (2024)
• Kalyan Nagar 3-rd St: Rs 1,100 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 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market, and it is advisable to check the latest figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Karikalan Street?

The current guideline value of Karikalan Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 322% over the years.

What is the median guideline value in Irumpuliyur?

The median guideline value in Irumpuliyur is Rs 2,200 per sq.ft, with Karikalan Street's current value being above this median.

What are the stamp duty and registration fees for properties in Karikalan Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees amount to Rs 2,27,700.

Where is the Sub Registrar Office for Karikalan Street located?

The Sub Registrar Office for Karikalan Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.