Guideline Value for Karumari Amman Nagar

Karumari Amman Nagar guideline value

The current guideline value of Karumari Amman Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karumari Amman Nagar has changed

The guideline value for Karumari Amman Nagar has seen several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 800 per sq.ft, and the current revision for 2024 has further increased it to Rs 880 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall increase in the guideline value is 780%. The change from 2023 to 2024 represents a 10% increase, while the jump from 2017 to 2023 is a notable 49%. The decrease from 2012 to 2017 was 33%, and the increase from 2007 to 2012 was a substantial 700%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Karumari Amman Nagar's 2024 figure below this median.

• Kannaki Street: Rs 1,210 per sq.ft (2024)
• Kambar Street: Rs 1,760 per sq.ft (2024)
• Kamakshi Nagar: Rs 2,200 per sq.ft (2024)
• Krishna Raj Avenue: Rs 3,630 per sq.ft (2024)
• Kubera Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Kubera Mangala Nagar: Rs 3,630 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total cost of Rs 79,200. 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 Nagar?

The Sub Registrar Office that covers Karumari Amman Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Mudichur, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees payable at the time of registration.

When a property is sold, the sale price must be equal to or greater than the guideline value to ensure compliance with legal requirements. Buyers should be aware that the guideline value may differ from the actual market price, and it is essential to consider both when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar?

The current guideline value of Karumari Amman Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 780% over the years.

What is the stamp duty for property in Karumari Amman Nagar?

The stamp duty for property in Karumari Amman Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 8,80,000, the stamp duty would be Rs 61,600.

Which office handles registrations for Karumari Amman Nagar?

The Padappai Sub Registrar Office handles registrations for Karumari Amman Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as the minimum value for property registration in the area.