Guideline Value for Karumarriyamman Koil Nalvar Street

Karumarriyamman Koil Nalvar Street guideline value

The current guideline value of Karumarriyamman Koil Nalvar Street is Rs 3,850 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 - II.

How the guideline value of Karumarriyamman Koil Nalvar Street has changed

The guideline value for Karumarriyamman Koil Nalvar Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The value saw a remarkable 400% increase from 2007 to 2012, but then it fell by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Karumarriyamman Koil Nalvar Street is above this median.

• Karumarriyamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 1st Street: Rs 4,400 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 Nalvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 details.

Which Sub Registrar Office covers Karumarriyamman Koil Nalvar Street?

The Sub Registrar Office that covers Karumarriyamman Koil Nalvar 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 further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When you register a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Karumarriyamman Koil Nalvar Street?

The current guideline value of Karumarriyamman Koil Nalvar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing a significant increase over the years, including a notable rise of 10% from 2023 to 2024.

What is the land classification of Karumarriyamman Koil Nalvar Street?

The land classification of Karumarriyamman Koil Nalvar Street is Mixed Type - II, which indicates the type of development and usage permitted in the area.

What is the registration office for this street?

The registration office for Karumarriyamman Koil Nalvar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Hastinapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,50,000, the stamp duty would be calculated at 7% of this amount.