Guideline Value for Karumariyamman Street

Karumariyamman Street guideline value

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

How the guideline value of Karumariyamman Street has changed

The guideline value for Karumariyamman Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 650%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by the latest increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% change.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 725%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with 2024 figures ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Karumariyamman Street's 2024 guideline value below that median.

• Karumariyamman Koil 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 Street

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

Which Sub Registrar Office covers Karumariyamman Street?

The Sub Registrar Office that covers Karumariyamman 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 in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karumariyamman Street?

The current guideline value of Karumariyamman 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, reflecting an overall increase of 725% over the years.

What is the stamp duty for property in Karumariyamman Street?

The stamp duty for property in Karumariyamman Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

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

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam with similar guideline values include Karumariyamman Koil Street, Kothandaramar Koil Street, and Kuthalamman Koil Street, all valued at Rs 3,300 per sq.ft in 2024.