Guideline Value for Karukku Main Road 1st Street

Karukku Main Road 1st Street guideline value

The current guideline value of Karukku Main Road 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Karukku Main Road 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the value increased significantly to Rs 1,000 per sq.ft, representing a 49% increase from the 2017 figure. The 2024 revision kept the value steady at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that the guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 1,000 per sq.ft.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Karukku Main Road 1st Street is below this median.

• Karukku Main Road 2nd Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road: Rs 1,300 per sq.ft (2024)
• Karukku Main Road 3rd Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 4th Street: Rs 1,000 per sq.ft (2024)
• Karuppankulam St (Elango Street): Rs 1,000 per sq.ft (2024)
• Kathiresan Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karukku Main Road 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 details.

Which Sub Registrar Office covers Karukku Main Road 1st Street?

The Sub Registrar Office that covers Karukku Main Road 1st 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 Menambedu

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Karukku Main Road 1st Street?

The current guideline value of Karukku Main Road 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a notable decrease from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, followed by an increase back to Rs 1,000 per sq.ft in 2023 and remaining unchanged in 2024.

What is the land classification for Karukku Main Road 1st Street?

The land classification for Karukku Main Road 1st Street is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a property with a guideline value of Rs 10,00,000, the total fees would amount to Rs 90,000.

Which office handles property registrations for Karukku Main Road 1st Street?

The Ambattur Sub Registrar Office is responsible for handling property registrations for Karukku Main Road 1st Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.