Guideline Value for Karumari Street

Karumari Street guideline value

The current guideline value of Karumari Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Karumari Street has changed

The guideline value for Karumari Street has seen several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,600 per sq.ft in 2023, and then further increased to Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, positioning Karumari Street's 2024 figure above that median.

• Karunya Cross street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Karunya street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Kasilingam Cross Street (Iyappan nagar etxn.): Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumari Street?

The Sub Registrar Office that covers Karumari Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration, ensuring that the government receives the appropriate revenue based on property values.

When buying or selling property, the guideline value is considered along with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karumari Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value for Karumari Street has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Karumari Street?

Karumari Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty rates for properties in Ayappakkam?

Stamp duty for properties in Ayappakkam is typically charged at 7% of the guideline value or the sale price, whichever is higher. Additional registration fees may also apply.

Where can I find the Sub Registrar Office for Karumari Street?

The Sub Registrar Office for Karumari Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.