Guideline Value for Karumari Amman Nagar Main Road

Karumari Amman Nagar Main Road guideline value

The current guideline value of Karumari Amman Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Karumari Amman Nagar Main Road has changed

The guideline value for Karumari Amman Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,300 per sq.ft.

In terms of percentage changes, the value increased by 8% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Karumari Amman Nagar Main Road's 2024 figure below that median.

• Karumari Amman Nagar Link Road: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar-Sri Devi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Karumari Amman Nagar: Rs 1,300 per sq.ft (2024)
• Kaspapuram Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Amman Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that 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 Karumari Amman Nagar Main Road?

The Sub Registrar Office that covers Karumari Amman Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of this value, as it directly influences the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar Main Road?

The current guideline value of Karumari Amman Nagar 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 Karumari Amman Nagar Main Road?

The land classification for Karumari Amman Nagar Main Road is Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Karumari Amman Nagar Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.