Guideline Value for KARPAGAM NAGAR ANNEXE

Karpagam Nagar Annexe guideline value

The current guideline value of Karpagam Nagar Annexe is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Karpagam Nagar Annexe has changed

The guideline value for Karpagam Nagar Annexe has seen several revisions over the years. The earliest recorded revision is from 2017, which set the value at Rs 402 per sq.ft. This figure increased to Rs 600 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Karpagam Nagar Annexe's 2024 figure below that median.

• Karpagam Nagar: Rs 660 per sq.ft (2024)
• Kalaignar Street: Rs 1,320 per sq.ft (2024)
• Kulaswamini Ligasan Madha Nagar: Rs 660 per sq.ft (2024)
• Joyson Nagar (Garden): Rs 1,320 per sq.ft (2024)
• Kundrathur Road: Rs 1,320 per sq.ft (2024)
• Lakshmi Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value is Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karpagam Nagar Annexe?

The Karpagam Nagar Annexe falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Thirumudivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When you buy or sell property, the guideline value acts as a benchmark for the transaction price. If the sale price is higher than the guideline value, the duty is charged on the sale price instead, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Karpagam Nagar Annexe?

The current guideline value of Karpagam Nagar Annexe is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 402 per sq.ft in 2017 to Rs 660 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Thirumudivakkam with their guideline values?

Other streets in Thirumudivakkam include Karpagam Nagar at Rs 660 per sq.ft, Kalaignar Street at Rs 1,320 per sq.ft, and several others, with values ranging up to Rs 3,860 per sq.ft.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated in Karpagam Nagar Annexe?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.