Guideline Value for KARPAGAM NAGAR

Karpagam Nagar guideline value

The current guideline value of Karpagam Nagar, located in Kovilambakkam village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Karpagam Nagar has changed

The guideline value for Karpagam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the current guideline value of Karpagam Nagar.

• Kbg Nagar: Rs 2,750 per sq.ft (2024)
• Kolathur Salai: Rs 2,750 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Salai 2 And 3rd Street: Rs 2,160 per sq.ft (2024)
• Kalaingar Salai 1 To 4 Streets: Rs 2,160 per sq.ft (2024)
• Kulakarai Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karpagam Nagar?

Karpagam Nagar falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the buying or selling process.

When a property is being sold, the guideline value ensures that the transaction is recorded at a price that reflects the official valuation set by the government. This helps maintain transparency and consistency in property dealings within Kovilambakkam.

Frequently asked questions

What is the current guideline value of Karpagam Nagar?

The current guideline value of Karpagam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Karpagam Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Karpagam Nagar?

The Pallavaram Sub Registrar Office covers Karpagam Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the minimum price for property registration and to determine the applicable stamp duty and registration fees during transactions.