Guideline Value for Karukku Main Road

Karukku Main Road guideline value

The current guideline value of Karukku Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Menambedu village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Karukku Main Road has changed

The guideline value for Karukku Main Road has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,300 per sq.ft in 2024, marking an 8% rise from the previous year. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. The changes between the revisions are significant, with a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017.

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. The median value for these streets is Rs 1,003 per sq.ft, placing Karukku Main Road's 2024 figure above that median.

• Karukku Main Road 1st Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 2nd Street: Rs 1,000 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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karukku Main Road?

The Sub Registrar Office that covers Karukku Main Road 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 when registering property transactions in Menambedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and helps prevent undervaluation during the registration process.

Frequently asked questions

What is the current guideline value of Karukku Main Road?

The current guideline value of Karukku Main Road 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 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 Karukku Main Road?

Karukku Main Road is classified as Residential Class II Type - I.

What is the registration office for Karukku Main Road?

The registration office for Karukku Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties on Karukku Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000, resulting in a stamp duty of Rs 91,000.