Guideline Value for Karumariamman Nagar 4th Cross Street

Karumariamman Nagar 4th Cross Street guideline value

The current guideline value of Karumariamman Nagar 4th Cross Street is Rs 1,540 per sq.ft. 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 4th Cross Street has changed

The guideline value for Karumariamman Nagar 4th Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value significantly increased to Rs 1,400 per sq.ft in 2023, and further rose to Rs 1,540 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 1,540 per sq.ft, which matches the current guideline value of Karumariamman Nagar 4th Cross Street.

• 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 3rd 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)
• Karumariamman Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar 4th 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, bringing the total to Rs 1,38,600. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Karumariamman Nagar 4th Cross Street?

The Sub Registrar Office that covers Karumariamman Nagar 4th 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 information.

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 stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar 4th Cross Street?

The current guideline value of Karumariamman Nagar 4th 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 changed from Rs 1,400 per sq.ft in 2023 to Rs 1,540 per sq.ft in 2024, marking a 10% increase. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification of this area?

The land classification for Karumariamman Nagar 4th Cross Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Karumariamman Nagar 4th Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,07,800.