Guideline Value for Karumari Nagar

Karumari Nagar guideline value

The current guideline value of Karumari Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Perumattu Nellore village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - II.

How the guideline value of Karumari Nagar has changed

The guideline value of Karumari Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 700 per sq.ft. This remained unchanged in the subsequent revision in 2017, which also recorded a value of Rs 469 per sq.ft. However, in 2023, the value increased to Rs 700 per sq.ft, and it remained the same in the 2024 revision.

Between the revisions, there have been notable changes. From 2017 to 2023, there was a significant increase of 49%. In contrast, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 700 per sq.ft.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which aligns with the 2024 figure for Karumari Nagar.

• Karumariamman Nagar: Rs 700 per sq.ft (2024)
• Kanga Puram: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumari Nagar?

The Chengleput Joint II Sub Registrar Office covers Karumari Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. The fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karumari Nagar?

The current guideline value of Karumari Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft in 2012, 2023, and 2024. It was Rs 469 per sq.ft in 2017, showing a 49% increase from 2017 to 2023.

What is the land classification for Karumari Nagar?

Karumari Nagar falls under the land classification of Residential Special Type - II.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Karumari Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Karumari Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.