Guideline Value for Karumari Amman Nagar

Karumari Amman Nagar guideline value

The current guideline value of Karumari Amman Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Karumari Amman Nagar has changed

Over the years, the guideline value for Karumari Amman Nagar has seen significant changes. The 2007 revision set the value at Rs 668 per sq.ft, which increased dramatically to Rs 3,200 per sq.ft in 2012, marking a rise of 379%. However, this value fell to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The subsequent revisions saw an increase to Rs 3,200 per sq.ft in 2023, followed by the current value of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 427%.

Guideline values in Madanandapuram

Madanandapuram village has a range of guideline values across its 94 streets under the Kunrathur SRO, with values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value is Rs 3,520 per sq.ft, which is the same as the current value for Karumari Amman Nagar.

• karpagambal Nagar Annuxe: Rs 3,520 per sq.ft (2024)
• Karpagambal Nagar: Rs 3,520 per sq.ft (2024)
• Kannappan Nagar: Rs 3,520 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 3,520 per sq.ft (2024)
• Krishna Nagar: Rs 3,520 per sq.ft (2024)
• Krishna Nagar Extension: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumari Amman Nagar?

The Sub Registrar Office that covers Karumari Amman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar?

The current guideline value of Karumari Amman Nagar is Rs 3,520 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 668 per sq.ft in 2007 to the current Rs 3,520 per sq.ft in 2024, marking an overall increase of 427% over the years.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram is Rs 3,520 per sq.ft, which is the same as the current value for Karumari Amman Nagar.

What are the registration fees for property transactions in Karumari Amman Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Karumari Amman Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Karumari Amman Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.