Guideline Value for Karumariamman Nagar Main Road

Karumariamman Nagar Main Road guideline value

The current guideline value of Karumariamman Nagar Main Road 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 Main Road has changed

The guideline value for Karumariamman Nagar Main Road 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 2023 revision increased the value to Rs 1,400 per sq.ft, and the most recent 2024 revision has set it at Rs 1,540 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

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 current guideline value for Karumariamman Nagar Main Road.

• Karumariamman Nagar Ist Cross Street: 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 Main Road

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, making the total cost Rs 1,38,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumariamman Nagar Main Road?

The Sub Registrar Office that covers Karumariamman Nagar Main Road 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 an essential 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 applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges that must be paid at the time of registration. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar Main Road?

The current guideline value of Karumariamman Nagar Main Road 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 is the land classification for Karumariamman Nagar Main Road?

Karumariamman Nagar Main Road is classified as Residential Class I Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Karumariamman Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.