Guideline Value for Karumariamman Nagar

Karumariamman Nagar guideline value

The current guideline value of Karumariamman Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Karumariamman Nagar has changed

The guideline value for Karumariamman Nagar has undergone several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, in 2017, the value saw a significant rise to Rs 335 per sq.ft, marking a decrease of 33% from the previous revision. The value further increased to Rs 700 per sq.ft in 2023, maintaining the same rate in the 2024 revision, resulting in a 109% increase from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with the median being Rs 700 per sq.ft. The guideline value for Karumariamman Nagar is equal to this median.

• Karumari Nagar: Rs 700 per sq.ft (2024)
• Kanga Puram: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumariamman Nagar?

The Sub Registrar Office that covers Karumariamman Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the property registration process.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar?

The current guideline value of Karumariamman Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, representing an overall increase of 300% over the years.

What is the registration office for Karumariamman Nagar?

The registration office for Karumariamman Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the stamp duty and registration fees for a property in Karumariamman Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 700 per sq.ft, the total fees would amount to Rs 63,000.

What are the other streets with guideline values in Perumattu Nellore?

Other streets in Perumattu Nellore include Karumari Nagar, Kanga Puram, Krishna Nagar, Lakshmi Nagar, Lakshmi Puram, and Lavakusa Nagar, with guideline values ranging from Rs 500 to Rs 800 per sq.ft in 2024.