Guideline Value for Karumariyamman Koil Street

Karumariyamman Koil Street guideline value

The current guideline value of Karumariyamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karumariyamman Koil Street has changed

The guideline value for Karumariyamman Koil Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,000 per sq.ft, followed by a further rise to the current value of Rs 3,300 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

Between the revisions, notable changes include a 650% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Karumariyamman Koil Street's 2024 figure below this median.

• Karumariyamman Street: Rs 3,300 per sq.ft (2024)
• Kothandaramar Koil Street: Rs 3,300 per sq.ft (2024)
• Kuthalamman Koil Street: Rs 3,300 per sq.ft (2024)
• I.D.P.L Road: Rs 4,400 per sq.ft (2024)
• I.D.P.Lquarters: Rs 4,400 per sq.ft (2024)
• Maniam's mango grove: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Karumariyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumariyamman Koil Street?

The Sub Registrar Office that covers Karumariyamman Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the actual sale price may be higher than the guideline value, but the registration will be based on the higher of the two. This ensures that all transactions are recorded fairly and transparently, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Karumariyamman Koil Street?

The current guideline value of Karumariyamman Koil Street is Rs 3,300 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 3,300 per sq.ft in 2024, showing an overall increase of 725% over the years.

What is the median guideline value for streets in Nandhambakkam?

The median guideline value for streets in Nandhambakkam is Rs 3,900 per sq.ft, which is above the current value of Karumariyamman Koil Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.