Guideline Value for KARPAGAMBAL MAIN ROAD

Karpagambal Main Road guideline value

The current guideline value of Karpagambal Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - III.

How the guideline value of Karpagambal Main Road has changed

The guideline value for Karpagambal Main Road has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,540 per sq.ft. This figure saw a significant increase to Rs 10,500 per sq.ft in 2012, marking a rise of 582%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The guideline value then rose dramatically to Rs 10,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, indicating a 10% increase from the previous year.

It is important to note that there are no recorded figures for Karpagambal Main Road in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 647%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Karpagambal Main Road's current value above this median.

• Karpagam Avenue (Sai Nagar): Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 4th Street: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 3rd Street: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 2nd Street: Rs 16,500 per sq.ft (2024)
• Karpagambal Nagar: Rs 11,500 per sq.ft (2024)
• Karpagam Avenue 1st Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagambal Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. It is important to note that the 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 Karpagambal Main Road?

The Karpagambal Main Road is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official valuation of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karpagambal Main Road?

The current guideline value of Karpagambal Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,540 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, which is an overall increase of 647%.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty rates for properties in Karpagambal Main Road?

The stamp duty for properties in Karpagambal Main Road is charged at 7% of the guideline value or sale price, whichever is higher.

How is the guideline value determined for properties in Mylapore?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.