Guideline Value for KarukkuMedu Colony

KarukkuMedu Colony guideline value

The current guideline value of KarukkuMedu Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This colony is located in the village of Mangadu -A under the Kunrathur SRO, with a land classification of Residential Special Type - III.

How the guideline value of KarukkuMedu Colony has changed

The guideline value for KarukkuMedu Colony has seen several revisions over the years. In 2017, the value was Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions show a significant increase of 49% from 2017 to 2023, followed by the aforementioned increase of 10% from 2023 to 2024.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value of KarukkuMedu Colony is above this median.

• Karim Nagar: Rs 1,980 per sq.ft (2024)
• Kayithe Millath Nagar Pattu: Rs 1,980 per sq.ft (2024)
• Keezh Ragunathapuram: Rs 1,980 per sq.ft (2024)
• Kirubanandha Variar Nagar: Rs 1,870 per sq.ft (2024)
• K.K.Nagar: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in KarukkuMedu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 further calculations.

Which Sub Registrar Office covers KarukkuMedu Colony?

The Sub Registrar Office that covers KarukkuMedu Colony is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when buying or selling property in Mangadu -A, as it determines the minimum value at which a property can be registered. Buyers must be aware that this value influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value will be used to assess the applicable fees, ensuring that all transactions are conducted in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of KarukkuMedu Colony?

The current guideline value of KarukkuMedu Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for KarukkuMedu Colony?

KarukkuMedu Colony is classified as Residential Special Type - III.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in KarukkuMedu Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,38,600.