Guideline Value for Karumariamman Nagar 2nd Cross Street

Karumariamman Nagar 2nd Cross Street guideline value

The current guideline value of Karumariamman Nagar 2nd Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Thiruverkadu village and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karumariamman Nagar 2nd Cross Street has changed

The guideline value for Karumariamman Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 938 per sq.ft. The 2023 revision raised the value to Rs 1,400 per sq.ft, and the most recent 2024 revision increased it to Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the 2024 figure for Karumariamman Nagar 2nd Cross Street.

• Karumariamman Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 6th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total cost Rs 1,38,600. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumariamman Nagar 2nd Cross Street?

The Sub Registrar Office that covers Karumariamman Nagar 2nd Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruverkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This helps in maintaining a standard valuation across the region.

Frequently asked questions

What is the current guideline value for Karumariamman Nagar 2nd Cross Street?

The current guideline value for Karumariamman Nagar 2nd Cross Street is Rs 1,540 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 change being a 10% increase from Rs 1,400 per sq.ft in 2023 to Rs 1,540 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Karumariamman Nagar 2nd Cross Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Kunrathur Sub Registrar Office covers Karumariamman Nagar 2nd Cross Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 1,38,600 in fees.