Guideline Value for KARPAGA KAMALA VINAYAGAR NAGAR

Karpaga Kamala Vinayagar Nagar guideline value

The current guideline value of Karpaga Kamala Vinayagar Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village and falls under the Ponneri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Karpaga Kamala Vinayagar Nagar has changed

The guideline value for Karpaga Kamala Vinayagar Nagar has undergone several revisions over the years. In 2017, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in 2023, marking a significant rise of 49%. As of the 2024 revision, the guideline value stands at Rs 550 per sq.ft, reflecting a further increase of 10% from the previous year. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the 2024 figure for Karpaga Kamala Vinayagar Nagar.

• Karmel Nagar: Rs 550 per sq.ft (2024)
• Kattur Road: Rs 440 per sq.ft (2024)
• Kaveri Nagar: Rs 550 per sq.ft (2024)
• Kanagambal Nagar: Rs 550 per sq.ft (2024)
• Kanagadurgambal Nagar: Rs 550 per sq.ft (2024)
• K.G.L. Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Karpaga Kamala Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpaga Kamala Vinayagar Nagar?

Karpaga Kamala Vinayagar Nagar falls under the jurisdiction of the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Minjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Karpaga Kamala Vinayagar Nagar?

The current guideline value of Karpaga Kamala Vinayagar Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and now to Rs 550 per sq.ft in 2024, marking an overall increase of 64% from 2017 to 2024.

What is the land classification for Karpaga Kamala Vinayagar Nagar?

Karpaga Kamala Vinayagar Nagar is classified as Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for property in Karpaga Kamala Vinayagar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.