Guideline Value for Karumariamman Nagar Ist Cross Street

Karumariamman Nagar Ist Cross Street guideline value

The current guideline value of Karumariamman Nagar Ist 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 and is classified as Residential Class I Type - I.

How the guideline value of Karumariamman Nagar Ist Cross Street has changed

The guideline value for Karumariamman Nagar Ist 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. However, from 2017 to 2023, the value saw a significant increase to Rs 1,400 per sq.ft, followed by another increase to Rs 1,540 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision is an increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which is the same as the current value for Karumariamman Nagar Ist Cross Street.

• Karumariamman Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)
• Karumariamman Nagar 6th 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)

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

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

Which Sub Registrar Office covers Karumariamman Nagar Ist Cross Street?

The Sub Registrar Office that covers Karumariamman Nagar Ist 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 plays a crucial role in the registration process when buying or selling property in Thiruverkadu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the transaction is compliant with local regulations. It also helps in assessing the costs involved in property transactions, making it a key factor in the buying and selling process.

Frequently asked questions

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

The current guideline value of Karumariamman Nagar Ist 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 increased to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which office handles property registrations for this street?

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

What is the land classification for Karumariamman Nagar Ist Cross Street?

Karumariamman Nagar Ist Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.