Guideline Value for Karumari Amman Koil 2nd Street

Karumari Amman Koil 2nd Street guideline value

The current guideline value of Karumari Amman Koil 2nd 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 2nd Street has changed

The guideline value for Karumari Amman Koil 2nd Street has undergone several revisions over the years. In the 2003 revision, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. The value then rose to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 1,500 per sq.ft in 2023 and further to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 580%. Notably, the register has no figure for this street in 2002.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values 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, which means that the 2024 value of Karumari Amman Koil 2nd Street is below this median.

• Karumari Amman Koil 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 17,00,000. The stamp duty, calculated at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees total 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumari Amman Koil 2nd Street?

The Sub Registrar Office that covers Karumari Amman Koil 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is registered. Buyers and sellers should be aware that the guideline value is a key factor in calculating these costs.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karumari Amman Koil 2nd Street?

The current guideline value of Karumari Amman Koil 2nd 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, marking an overall increase of 580%.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Kottivakkam?

The Adayar Sub Registrar Office handles property registrations in Kottivakkam, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which indicates that the guideline value of Karumari Amman Koil 2nd Street is below this median.