Guideline Value for KARPAGA VINAYAGA COLONY - Parthiban Street

KARPAGA VINAYAGA COLONY - Parthiban Street guideline value

The current guideline value for KARPAGA VINAYAGA COLONY - Parthiban Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of KARPAGA VINAYAGA COLONY - Parthiban Street has changed

The guideline value for KARPAGA VINAYAGA COLONY - Parthiban Street has seen several revisions over the years. In 2002, the guideline value was Rs 275 per sq.ft, which increased to Rs 301 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, marking a 66% increase. By 2012, the value had increased to Rs 3,000 per sq.ft, reflecting a 500% rise from the previous revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, which was a 33% drop. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for this street has increased by 1100%. There are no figures available for any other revisions for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for KARPAGA VINAYAGA COLONY - Parthiban Street is above this median.

• KARPAGA VINAYAGA COLONY - Nethaji street: Rs 3,300 per sq.ft (2024)
• KARPAGA VINAYAGA COLONY - Vivekanandhar Street: Rs 3,300 per sq.ft (2024)
• Karpaga Vinayaga Colony - Main Road: Rs 3,300 per sq.ft (2024)
• KARPAGA VINAYAGA COLONY - Mahalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• KARPAGA VINAYAGA COLONY - Maha Kavi Bharathiar Street: Rs 3,300 per sq.ft (2024)
• KARPAGA VINAYAGA COLONY - Ganga Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARPAGA VINAYAGA COLONY - Parthiban Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on the fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARPAGA VINAYAGA COLONY - Parthiban Street?

The KARPAGA VINAYAGA COLONY - Parthiban Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable fees, which ensures that the registration process is transparent and fair.

Frequently asked questions

What is the current guideline value of KARPAGA VINAYAGA COLONY - Parthiban Street?

The current guideline value of KARPAGA VINAYAGA COLONY - Parthiban Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1100% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers KARPAGA VINAYAGA COLONY - Parthiban Street?

The Virugambakkam Sub Registrar Office covers KARPAGA VINAYAGA COLONY - Parthiban Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for KARPAGA VINAYAGA COLONY - Parthiban Street?

KARPAGA VINAYAGA COLONY - Parthiban Street is classified under Residential Class II Type - I.