Guideline Value for KARPAGA VINAYAGAR KOIL STREET

Karpaga Vinayagar Koil Street guideline value

The current guideline value of Karpaga Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Karpaga Vinayagar Koil Street has changed

The guideline value for Karpaga Vinayagar Koil Street has seen significant changes over the years. In 2003, the guideline value was Rs 86 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a rise of 133%. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of 650%. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,700 per sq.ft in 2024, which is a rise of 13%.

Overall, from 2003 to 2024, the guideline value has increased by 1,877%. The register has no figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is the same as that of Karpaga Vinayagar Koil Street.

• Karpaga Vinayagar Street: Rs 1,700 per sq.ft (2024)
• Karthikeyan Garden: Rs 1,100 per sq.ft (2024)
• Karim Garden: Rs 3,300 per sq.ft (2024)
• Karthik Garden: Rs 1,700 per sq.ft (2024)
• Kamatchi Nagar/Sri Kamatchi Nagar: Rs 1,800 per sq.ft (2024)
• Khajamohideen Garden: Rs 2,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration fee would amount to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpaga Vinayagar Koil Street?

The Karpaga Vinayagar Koil Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. 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 a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Karpaga Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 86 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, which is an overall increase of 1,877%.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Karpaga Vinayagar Koil Street?

The Neelankarai Sub Registrar Office handles the registration for Karpaga Vinayagar Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value determines the minimum value for property registration and is used to calculate stamp duty and registration fees, ensuring accurate revenue collection during property transactions.