Guideline Value for Karumariamman Nagar

Karumariamman Nagar guideline value

The current guideline value of Karumariamman Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Karumariamman Nagar has changed

The guideline value for Karumariamman Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 260% rise. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The value then rose again to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in 2024, reflecting a 10% change.

Between 2017 and 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 296%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 1,215 per sq.ft, placing Karumariamman Nagar's current value below that median.

• Karumari Amman Kovil Theru: Rs 1,320 per sq.ft (2024)
• Karapudi Amman Koil Street: Rs 2,640 per sq.ft (2024)
• Kannan Nagar: Rs 990 per sq.ft (2024)
• Kannagi Street: Rs 990 per sq.ft (2024)
• K.K Nagar: Rs 990 per sq.ft (2024)
• Kanimozhi Aravindan Nagar: Rs 1,320 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Mannivakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is officially recorded and legally recognized.

Both buyers and sellers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar?

The current guideline value of Karumariamman Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, which is a total increase of 296%.

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

For a 1,000 sq.ft property, the total guideline value is Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100 for these fees.

Which Sub Registrar Office covers this area?

The Gooduvancheri Sub Registrar Office covers Karumariamman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification for Karumariamman Nagar?

The land classification for Karumariamman Nagar is Residential Special Type - II, indicating its designated use for residential purposes.