Guideline Value for Karumari Amman Nagar

Karumari Amman Nagar guideline value

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

How the guideline value of Karumari Amman Nagar has changed

The guideline value for Karumari Amman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, but this was reduced to Rs 804 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,200 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,300 per sq.ft.

Looking at the changes between these revisions, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%.

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 guideline value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Karumari Amman Nagar is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the authorities. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Karumari Amman Nagar?

The current guideline value of Karumari Amman Nagar 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 seen several revisions, with the most recent being Rs 1,300 per sq.ft in 2024, up from Rs 1,200 per sq.ft in 2023. The value was Rs 804 per sq.ft in 2017, showing a significant increase over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value.

Which Sub Registrar Office covers Karumari Amman Nagar?

The Selaiyur Sub Registrar Office covers Karumari Amman Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Karumari Amman Nagar?

The land classification for Karumari Amman Nagar is Residential Class II Type - II, indicating its designation for residential use.