Guideline Value for Karumarriyamman Koil 1st Street

Karumarriyamman Koil 1st Street guideline value

The current guideline value of Karumarriyamman Koil 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, with a land classification of Mixed Type - I.

How the guideline value of Karumarriyamman Koil 1st Street has changed

The guideline value for Karumarriyamman Koil 1st Street has seen significant changes over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The subsequent revisions saw an increase, with the value rising to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 529%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Karumarriyamman Koil 1st Street's 2024 figure above this median.

• Karumarriyamman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil Nalvar Street: Rs 3,850 per sq.ft (2024)
• Karunanithi Nagar: Rs 2,420 per sq.ft (2024)
• Karpagambal Street: Rs 2,380 per sq.ft (2024)
• Kannammal Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Karumarriyamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the 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 information on fees.

Which Sub Registrar Office covers Karumarriyamman Koil 1st Street?

The Sub Registrar Office that covers Karumarriyamman Koil 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is important for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value is essential for compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karumarriyamman Koil 1st Street?

The current guideline value of Karumarriyamman Koil 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 529%.

What is the land classification for Karumarriyamman Koil 1st Street?

The land classification for Karumarriyamman Koil 1st Street is Mixed Type - I, which indicates the type of development permissible in this area.

Which office handles property registration for this street?

The Pallavaram Sub Registrar Office handles property registration for Karumarriyamman Koil 1st Street, located at 7th Main Road, New Colony, Chromepet, Chennai.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.