Guideline Value for SRI KARUMARIAMMAN NAGAR ANNEXE

Sri Karumariamman Nagar Annexe guideline value

The current guideline value of Sri Karumariamman Nagar Annexe is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kolacheri village and falls under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Karumariamman Nagar Annexe has changed

The guideline value for Sri Karumariamman Nagar Annexe has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 600 per sq.ft. This value then dropped to Rs 402 per sq.ft in 2017, marking a decrease of 33%. Subsequently, in 2023, the value increased to Rs 600 per sq.ft, and in the latest revision for 2024, it rose to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolacheri

In Kolacheri village, there are 13 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 660 to Rs 2,450 per sq.ft, with the median value being Rs 660 per sq.ft. The guideline value for Sri Karumariamman Nagar Annexe matches this median.

• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)
• Sri Panjali Amman Nagar: Rs 660 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 660 per sq.ft (2024)
• Sree Residency: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Karumariamman Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Karumariamman Nagar Annexe?

The Sri Karumariamman Nagar Annexe is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolacheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these amounts are calculated based on the official value assigned to the property.

When a property is sold, the guideline value helps to establish a fair and transparent transaction process. Buyers and sellers can refer to this value to understand the costs associated with the sale and ensure compliance with the local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Karumariamman Nagar Annexe?

The current guideline value of Sri Karumariamman Nagar Annexe is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the classification of land in Sri Karumariamman Nagar Annexe?

Sri Karumariamman Nagar Annexe is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for properties in this area?

The registration office for properties in Sri Karumariamman Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 59,400.