Guideline Value for Karumari Nagar Extn

Karumari Nagar Extn guideline value

The current guideline value of Karumari Nagar Extn, located in Payasampakkam village under the Redhills SRO, is Rs 550 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Karumari Nagar Extn has changed

The guideline value of Karumari Nagar Extn has undergone several revisions over the years. The oldest registered figure is from 2017, which was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Payasampakkam

In Payasampakkam village, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with the median value being Rs 550 per sq.ft. Karumari Nagar Extn's 2024 guideline value is equal to this median.

• Karumari Nagar: Rs 550 per sq.ft (2024)
• Kantha Kottam Nagar: Rs 330 per sq.ft (2024)
• Kumarajan Nagar Annex - 1: Rs 550 per sq.ft (2024)
• Kumaran Nagar: Rs 550 per sq.ft (2024)
• Kumararajan Nagar Extn.: Rs 550 per sq.ft (2024)
• Kumar Rajan Nagar (A) Mahaveer Estate: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumari Nagar Extn?

The Sub Registrar Office that covers Karumari Nagar Extn is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Payasampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Karumari Nagar Extn?

The current guideline value of Karumari Nagar Extn is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Karumari Nagar Extn?

The registration office for Karumari Nagar Extn is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate applicable in Karumari Nagar Extn?

The stamp duty rate applicable in Karumari Nagar Extn is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets with the same guideline value in Payasampakkam?

Yes, other streets in Payasampakkam, such as Karumari Nagar, Kumarajan Nagar Annex - 1, Kumaran Nagar, Kumararajan Nagar Extn., and Kumar Rajan Nagar (A) Mahaveer Estate, also have a guideline value of Rs 550 per sq.ft in 2024.