Guideline Value for KARPA VINAYAGAR KOIL STREET

Karpa Vinayagar Koil Street guideline value

The current guideline value of Karpa Vinayagar Koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Karpa Vinayagar Koil Street has changed

The guideline value for Karpa Vinayagar Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 422 per sq.ft. This increased to Rs 487 per sq.ft in 2003, marking a change of +15%. The value further rose to Rs 1,000 per sq.ft in 2007, reflecting an increase of +105%. In 2012, the value was recorded at Rs 3,200 per sq.ft, which was a significant jump of +220% from the previous revision. However, the value then decreased to Rs 2,144 per sq.ft in 2017, showing a decline of -33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 3,200 per sq.ft, which is a rise of +49%. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, representing a change of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +734%. There are no figures recorded for any revisions other than those mentioned.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Karpa Vinayagar Koil Street is below this median.

• Karunai Street: Rs 3,080 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kattabomman Street: Rs 4,620 per sq.ft (2024)
• Kannagi Street: Rs 3,520 per sq.ft (2024)
• Kaveri Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Karpa Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, the total cost for these fees would be Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpa Vinayagar Koil Street?

The Sub Registrar Office that covers Karpa Vinayagar Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both the buyer and seller comply with the legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Karpa Vinayagar Koil Street?

The current guideline value of Karpa Vinayagar Koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes from Rs 422 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of +734% over this period.

What is the land classification for Karpa Vinayagar Koil Street?

Karpa Vinayagar Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,20,000, the stamp duty is Rs 2,46,400 and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Which office handles the registration for Karpa Vinayagar Koil Street?

The registration for Karpa Vinayagar Koil Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.