Guideline Value for Karumariamman Nagar

Karumariamman Nagar guideline value

The current guideline value of Karumariamman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Karumariamman Nagar has changed

The guideline value for Karumariamman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. After this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Karumariamman Nagar above the median.

• Karthick Avenue Extn: Rs 2,200 per sq.ft (2024)
• Karthick Avenue: Rs 2,200 per sq.ft (2024)
• Kasthuri Nagar: Rs 1,320 per sq.ft (2024)
• Kattabomman 1st Cross st: Rs 880 per sq.ft (2024)
• Kattabomman 2nd Cross st: Rs 880 per sq.ft (2024)
• Kattabomman 3rd Cross st: Rs 880 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in property transactions in Peerklankaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Karumariamman Nagar?

The current guideline value of Karumariamman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification for Karumariamman Nagar?

The land classification for Karumariamman Nagar is Residential Special Type - I.

Where can I find the registration office for Karumariamman Nagar?

The registration office for Karumariamman Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated in Karumariamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.