Guideline Value for KARPAGA VINAYAGAR NAGAR

Karpaga Vinayagar Nagar guideline value

The current guideline value for Karpaga Vinayagar Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Karpaga Vinayagar Nagar has changed

Over the years, the guideline value for Karpaga Vinayagar Nagar has undergone several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Karpaga Vinayagar Nagar is below this median.

• Kps Nagar: Rs 2,310 per sq.ft (2024)
• Jothi Nagar: Rs 1,540 per sq.ft (2024)
• Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Lakshmi Town: Rs 2,310 per sq.ft (2024)
• Lingam Nagar: Rs 3,300 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karpaga Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karpaga Vinayagar Nagar?

Karpaga Vinayagar Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

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

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. This value is essential for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Karpaga Vinayagar Nagar?

The current guideline value of Karpaga Vinayagar Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Karpaga Vinayagar Nagar?

Karpaga Vinayagar Nagar is classified as Residential Special Type - II, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Karpaga Vinayagar Nagar?

The Kunrathur Sub Registrar Office handles registrations for Karpaga Vinayagar Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.