Guideline Value for Karumari Amman Koil 1st Street

Karumari Amman Koil 1st Street guideline value

The current guideline value for Karumari Amman Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Karumari Amman Koil 1st Street has changed

The guideline value for Karumari Amman Koil 1st Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 250 per sq.ft. It increased significantly to Rs 1,000 per sq.ft in 2007, marking a 300% increase. In 2012, the value was revised to Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision set the value at Rs 1,005 per sq.ft, and it rose to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The current guideline value is Rs 1,700 per sq.ft as of the 2024 revision, which is a 13% increase from 2023.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 580%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, indicating that the 2024 figure for Karumari Amman Koil 1st Street is below this median.

• Karumari Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Karpakambal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Karpakambal Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Karpagambal Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Kasthuribai Nagar: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Amman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Karumari Amman Koil 1st Street?

The Sub Registrar Office that covers Karumari Amman Koil 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the registration process is standardized and transparent, helping both buyers and sellers understand the financial implications of their transactions in the real estate market.

Frequently asked questions

What is the current guideline value for Karumari Amman Koil 1st Street?

The current guideline value for Karumari Amman Koil 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 580% over this period.

What is the land classification for Karumari Amman Koil 1st Street?

The land classification for Karumari Amman Koil 1st Street is Residential Class V Type - III.

Which Sub Registrar Office is responsible for this area?

The Adayar Sub Registrar Office is responsible for Karumari Amman Koil 1st Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.