Guideline Value for Karimedu

Karimedu guideline value

The current guideline value of Karimedu, located in Acharapakkam village under the Acchirapakkam SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - I.

How the guideline value of Karimedu has changed

The guideline value for Karimedu has seen several revisions over the years. The earliest recorded value in 2007 was Rs 72 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2012, marking a 317% rise. However, between 2012 and 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value then saw a substantial increase of 99% from 2017 to 2023, reaching Rs 400 per sq.ft, which remained unchanged in the 2024 revision.

Notably, the guideline value has increased overall by 456% from the 2007 figure to the current 2024 figure. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Acharapakkam

Acharapakkam village consists of 61 streets under the Acchirapakkam SRO, with guideline values ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the current value for Karimedu.

• Kannai Koil Madha Street Ward 2: Rs 350 per sq.ft (2024)
• Kasturi Nagar: Rs 400 per sq.ft (2024)
• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)
• Koil Santhu Street Ward 11: Rs 400 per sq.ft (2024)
• Kollaimedu Colony: Rs 250 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Karimedu

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It's 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 details.

Which Sub Registrar Office covers Karimedu?

The Sub Registrar Office that covers Karimedu is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Acharapakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations associated with property transactions. Proper understanding of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Karimedu?

The current guideline value of Karimedu is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting an overall increase of 456% over the years.

What are the other streets in Acharapakkam with their guideline values?

Other streets in Acharapakkam have varying guideline values, with rates ranging from Rs 250 to Rs 600 per sq.ft. For example, Kannai Koil Madha Street Ward 2 has a value of Rs 350 per sq.ft, while Kasturi Nagar is at Rs 400 per sq.ft.

How is stamp duty calculated for property in Karimedu?

Stamp duty for property in Karimedu is calculated based on the higher of the guideline value or the sale price. For instance, a plot valued at Rs 4,00,000 incurs a stamp duty of Rs 28,000 at 7%.

Where can I find the Sub Registrar Office for Karimedu?

The Sub Registrar Office for Karimedu is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. This office handles all property registrations in the area.