Guideline Value for Karumari Amman Nagar

Karumari Amman Nagar guideline value

The current guideline value of Karumari Amman Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Karumari Amman Nagar has changed

Over the years, the guideline value for Karumari Amman Nagar has seen several revisions. The 2007 revision set the value at Rs 120 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then dropped to Rs 335 per sq.ft in the 2017 revision before stabilizing at Rs 500 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2012 to 2017, it decreased by 33%. The most notable change occurred from 2007 to 2012, where the value rose by 317%. Overall, from 2007 to 2024, the guideline value has increased by 317%.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Karumari Amman Nagar is below this median.

• Kannappa Nagar: Rs 800 per sq.ft (2024)
• Kannan Nagar: Rs 700 per sq.ft (2024)
• K.M.R. Nagar: Rs 800 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 800 per sq.ft (2024)
• Kalaivani Nagar: Rs 800 per sq.ft (2024)
• Kumaran Nagar (Survey No.135/5): Rs 1,000 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumari Amman Nagar?

The Sub Registrar Office covering Karumari Amman Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar?

The current guideline value of Karumari Amman Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant change from Rs 120 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, and it has remained at Rs 500 per sq.ft since 2023.

What is the median guideline value in Atanancheri?

The median guideline value in Atanancheri is Rs 700 per sq.ft, while Karumari Amman Nagar's current guideline value is below this median.

What are the stamp duty and registration fees for Karumari Amman Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 45,000, which includes stamp duty and registration fees.

Which office handles registrations for Karumari Amman Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Karumari Amman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202.