Guideline Value for Karumariamman Nagar

Karumariamman Nagar guideline value

The current guideline value of Karumariamman Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karumariamman Nagar has changed

The guideline value for Karumariamman Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision, marking a 233% rise. However, it then decreased to Rs 134 per sq.ft in the 2017 revision, reflecting a 33% drop. The value remained steady at Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 233%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft, with the median value being Rs 300 per sq.ft. Karumariamman Nagar's current guideline value is below this median.

• Karthik Nagar: Rs 600 per sq.ft (2024)
• Karuneergar Street: Rs 200 per sq.ft (2024)
• Kammalar Street: Rs 200 per sq.ft (2024)
• Kambar Street: Rs 200 per sq.ft (2024)
• Kamachi Colony: Rs 300 per sq.ft (2024)
• Kamachi Avenue Phase - II: Rs 300 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Valarpuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. The guideline value must be considered by both buyers and sellers to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the necessary fees, which can significantly impact the total cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar?

The current guideline value of Karumariamman Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 233%. It was Rs 60 per sq.ft in 2007, rose to Rs 200 in 2012, decreased to Rs 134 in 2017, and remained at Rs 200 in both 2023 and 2024.

What is the median guideline value in Valarpuram?

The median guideline value in Valarpuram is Rs 300 per sq.ft, while Karumariamman Nagar's current guideline value is below this median at Rs 200 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is at 2%. For a property valued at Rs 2,00,000, the total fees would amount to Rs 18,000.

Which office handles property registrations in Karumariamman Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Karumariamman Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.