Guideline Value for SRI KARUMARIAMMAN KOIL STREET

Sri Karumariamman Koil Street guideline value

The current guideline value of Sri Karumariamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Arasankalani village under the Selaiyur SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Karumariamman Koil Street has changed

The guideline value for Sri Karumariamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision and finally to Rs 1,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 8%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median guideline value in this area is Rs 2,100 per sq.ft, placing Sri Karumariamman Koil Street's 2024 figure below that median.

• Sriharsham's Varam: Rs 2,800 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Subbulakshmi Street: Rs 1,300 per sq.ft (2024)
• Sundar Nagar: Rs 1,900 per sq.ft (2024)
• Thazhambur Main Road: Rs 2,100 per sq.ft (2024)
• Thillaiyadi Valliammai Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Karumariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the 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 Sri Karumariamman Koil Street?

The Sub Registrar Office that covers Sri Karumariamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arasankalani. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. 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 Sri Karumariamman Koil Street?

The current guideline value of Sri Karumariamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase.

What is the land classification of Sri Karumariamman Koil Street?

Sri Karumariamman Koil Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sri Karumariamman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value results in a total guideline value of Rs 13,00,000, with the stamp duty calculated at 7% of that amount.