Guideline Value for Karumariamman Nagar 7th Cross Street

Karumariamman Nagar 7th Cross Street guideline value

The current guideline value of Karumariamman Nagar 7th 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, classified as Residential Class I Type - I.

How the guideline value of Karumariamman Nagar 7th Cross Street has changed

The guideline value for Karumariamman Nagar 7th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced 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 currently stands at Rs 1,540 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Specifically, the changes between the revisions are notable: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. 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 guideline value for these streets is Rs 1,540 per sq.ft, which is the same as the 2024 figure for Karumariamman Nagar 7th Cross Street.

• Karumariamman Nagar 6th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar Ist Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar Main Road: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar 7th 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 the duty is charged on the higher of the guideline value and the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumariamman Nagar 7th Cross Street?

The Sub Registrar Office that covers Karumariamman Nagar 7th 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 when registering property transactions in Thiruverkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar 7th Cross Street?

The current guideline value of Karumariamman Nagar 7th 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 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,540 per sq.ft in 2024.

What is the land classification for Karumariamman Nagar 7th Cross Street?

Karumariamman Nagar 7th Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,07,800 and the registration fee is Rs 30,800, totaling Rs 1,38,600.

Which office handles property registrations for this area?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Karumariamman Nagar 7th Cross Street.