Guideline Value for Karimedu Colony Street

Karimedu Colony Street guideline value

The current guideline value of Karimedu Colony Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Karimedu Colony Street has changed

The guideline value for Karimedu Colony Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision raised it further to Rs 1,300 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Karimedu Colony Street's 2024 figure below this median.

• Kannu Thottam: Rs 1,300 per sq.ft (2024)
• Kanniappan Street: Rs 1,300 per sq.ft (2024)
• Kanniammal Koil Street: Rs 1,300 per sq.ft (2024)
• Kanniammal Koil Madam: Rs 1,300 per sq.ft (2024)
• Karumariamman Nagar: Rs 1,300 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karimedu Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making a total of Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karimedu Colony Street?

The Sub Registrar Office that covers Karimedu Colony Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. This value helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Karimedu Colony Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Karimedu Colony Street?

Karimedu Colony Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Karimedu Colony Street?

The Sub Registrar Office for Karimedu Colony Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Karimedu Colony Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a total stamp duty of Rs 91,000.