Guideline Value for Karumariyamman Avenue

Karumariyamman Avenue guideline value

The current guideline value of Karumariyamman Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Karumariyamman Avenue has changed

The guideline value for Karumariyamman Avenue has seen several revisions over the years. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, the value decreased by 33% to Rs 804 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,320 per sq.ft, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing the 2024 figure for Karumariyamman Avenue below this median.

• Karumariyamman Koil Street: Rs 2,200 per sq.ft (2024)
• Karumari Amman Nagar: Rs 2,200 per sq.ft (2024)
• Kattapomman Street: Rs 5,500 per sq.ft (2024)
• KanniyammanKoil Street: Rs 2,200 per sq.ft (2024)
• Kanniamman St: Rs 2,200 per sq.ft (2024)
• Kennady Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariyamman Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making a total of Rs 1,18,800. 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 Karumariyamman Avenue?

The Sub Registrar Office that covers Karumariyamman Avenue 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 Tambaram

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing a property.

When selling a property, the guideline value ensures that the sale price is aligned with government assessments, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Karumariyamman Avenue?

The current guideline value of Karumariyamman Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 230% over this period.

What are the stamp duty rates for properties in Karumariyamman Avenue?

The stamp duty for properties in Karumariyamman Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Karumariyamman Avenue located?

The Sub Registrar Office for Karumariyamman Avenue is located at No.26, MES Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the median guideline value for streets in Tambaram?

The median guideline value for streets in Tambaram is Rs 3,300 per sq.ft, with Karumariyamman Avenue's 2024 figure being below this median.