Guideline Value for KARPAGA VINAYAGAR STREET

Karpaga Vinayagar Street guideline value

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

How the guideline value of Karpaga Vinayagar Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In the following 2023 revision, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Between the revisions, the changes were as follows: from 2017 to 2023, the value rose by 49%, while from 2012 to 2017, it decreased by 33%. The register has no figures for the years 2002, 2003, and 2007 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 equal to the 2024 figure for Karpaga Vinayagar Street.

• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karthikeyan Garden: Rs 1,100 per sq.ft (2024)
• Karthik Garden: Rs 1,700 per sq.ft (2024)
• Karim Garden: Rs 3,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpaga Vinayagar Street?

The Karpaga Vinayagar Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Chemmancheri. It is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is crucial to refer to the guideline value to understand the financial implications of the transaction. The guideline value serves as a benchmark for determining the minimum value at which a property can be registered.

Frequently asked questions

What is the current guideline value of Karpaga Vinayagar Street?

The current guideline value of Karpaga Vinayagar 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 several times, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri village is Rs 1,700 per sq.ft, which is the same as the current value for Karpaga Vinayagar Street.

What are the stamp duty and registration fees for properties on this street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Karpaga Vinayagar Street?

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