Guideline Value for Karupannasamy Nagar

Karupannasamy Nagar guideline value

The current guideline value of Karupannasamy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is part of Kolathur village, which falls under the Sembiam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Karupannasamy Nagar has changed

The guideline value of Karupannasamy Nagar has seen several revisions over the years. Starting from Rs 262 per sq.ft in 2002, it increased to Rs 285 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a jump to Rs 2,000 per sq.ft in 2012. A decrease was recorded in 2017, bringing the value down to Rs 1,340 per sq.ft. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024.

Notable changes include a 10% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The revision from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 186%. Between 2003 and 2007, the value increased by 146%, and from 2002 to 2003, there was a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 740%. There are no figures for revisions in other years for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Karupannasamy Nagar is below this median.

• Karpaga Vinayaga Koil Main Road: Rs 2,200 per sq.ft (2024)
• Kavi Kalidas Street: Rs 2,700 per sq.ft (2024)
• Kannaki Street: Rs 2,700 per sq.ft (2024)
• Kannaki Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karupannasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karupannasamy Nagar?

The Sub Registrar Office that covers Karupannasamy Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a reference point for calculating the stamp duty and registration fees that are applicable when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the fees are calculated based on a standardized value, providing transparency in the property transaction process.

Frequently asked questions

What is the current guideline value of Karupannasamy Nagar?

The current guideline value of Karupannasamy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 262 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 740% over this period.

What is the land classification for Karupannasamy Nagar?

The land classification for Karupannasamy Nagar is Residential Class IV Type - I, indicating its suitability for residential purposes.

What is the stamp duty rate for properties in Karupannasamy Nagar?

The stamp duty rate for properties in Karupannasamy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it serves the registration needs for Karupannasamy Nagar.