Guideline Value for Karumariamman Nagar 5th Cross Street

Karumariamman Nagar 5th Cross Street guideline value

The current guideline value for Karumariamman Nagar 5th Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Karumariamman Nagar 5th Cross Street has changed

The guideline value for Karumariamman Nagar 5th Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,400 per sq.ft, which decreased to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in the 2023 revision, and then further rose to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The changes between revisions show a notable increase of 49% from 2017 to 2023. However, the 2012 to 2017 period saw a decrease of 33%. It is important to note that there are no figures available for the revisions in 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 is equal to the guideline value of Karumariamman Nagar 5th Cross Street.

• Karumariamman Nagar 4th 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)
• Karumariamman Nagar 3rd 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 5th 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 amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total fees 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Karumariamman Nagar 5th Cross Street?

The Sub Registrar Office that covers Karumariamman Nagar 5th Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor in the property registration process in Thiruverkadu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both buyers and sellers are aware of the official property value as recognized by the state authorities.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar 5th Cross Street?

The current guideline value of Karumariamman Nagar 5th 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 undergone several revisions: Rs 1,400 per sq.ft in 2012, Rs 938 per sq.ft in 2017, Rs 1,400 per sq.ft in 2023, and Rs 1,540 per sq.ft in 2024. The most significant change was a 49% increase from 2017 to 2023.

What are the registration fees for a property in this area?

The registration fees for a property are calculated based on the guideline value. For a plot of 1,000 sq.ft, the total fees amount to Rs 1,38,600, which includes stamp duty and registration fees.

Which office handles property registrations in this area?

The Kunrathur Sub Registrar Office handles property registrations for Karumariamman Nagar 5th Cross Street. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate stamp duty and registration fees. It ensures that property transactions are conducted transparently and fairly within the legal framework.