Guideline Value for Karumarriyamman Koil 2nd Street

Karumarriyamman Koil 2nd Street guideline value

The current guideline value of Karumarriyamman Koil 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Karumarriyamman Koil 2nd Street has changed

The guideline value for Karumarriyamman Koil 2nd Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 700 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 471%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, showing a decline of 33%. The value then climbed to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 529%. It is important to note that there are no figures available for the years 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 2nd Street above this median.

• Karumarriyamman Koil 1st 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 2nd 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, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karumarriyamman Koil 2nd Street?

The Sub Registrar Office that covers Karumarriyamman Koil 2nd 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 the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karumarriyamman Koil 2nd Street?

The current guideline value of Karumarriyamman Koil 2nd 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 from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the stamp duty for property in Karumarriyamman Koil 2nd Street?

The stamp duty for property in Karumarriyamman Koil 2nd Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Karumarriyamman Koil 2nd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Karumarriyamman Koil 2nd Street?

The land classification for Karumarriyamman Koil 2nd Street is Mixed Type - I, indicating a diverse use of land in the area.