Guideline Value for Karmegam Street

Karmegam Street guideline value

The current guideline value of Karmegam Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Karmegam Street has changed

The guideline value for Karmegam Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a substantial rise of 350%. However, in the 2017 revision, the value decreased to Rs 1,206 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a guideline value of Rs 1,900 per sq.ft, which is an increase of 58% from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 375%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Karmegam Street's 2024 figure below this median.

• Karikalan Street (senthil nagar): Rs 2,700 per sq.ft (2024)
• Karpagam Avenue: Rs 1,500 per sq.ft (2024)
• Karpagambal Nagar: Rs 990 per sq.ft (2024)
• Karumari Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Kannathasan Street (senthil nagar): Rs 2,700 per sq.ft (2024)
• Kannappan Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Karmegam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Karmegam Street?

The Sub Registrar Office that covers Karmegam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded at a fair value, reflecting the property’s worth in the market.

Frequently asked questions

What is the current guideline value of Karmegam Street?

The current guideline value of Karmegam Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,900 per sq.ft in 2024, representing an overall increase of 375%. There were fluctuations in values, including a decrease from 2012 to 2017.

What is the land classification for Karmegam Street?

Karmegam Street is classified as Residential Class II Type - I, which indicates its use for residential purposes.

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

The Sub Registrar Office for Karmegam Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.