Guideline Value for KARPAGAMBAL NAGAR / STREET

Karpagambal Nagar / Street guideline value

The current guideline value of Karpagambal Nagar / Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Karpagambal Nagar / Street has changed

The guideline value for Karpagambal Nagar / Street has seen several revisions over the years. Starting with the 2003 revision, the value was Rs 391 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, followed by a drop to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision. Notably, there is no figure available for this street in the 2002 revision.

Between the revisions, the changes were as follows: from 2003 to 2007, there was a remarkable increase of +181%. The value then increased by +127% from 2007 to 2012, but saw a significant drop of -33% from 2012 to 2017. The value rose by +49% from 2017 to 2023, and has increased by +10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +603%.

Guideline values in Ramapuram

In Ramapuram village, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, making the guideline value of Karpagambal Nagar / Street below the median.

• Kanniyappan Street: Rs 2,750 per sq.ft (2024)
• Kannappar Street: Rs 1,950 per sq.ft (2024)
• Kannammal Street 2nd Lane: Rs 3,100 per sq.ft (2024)
• Kannammal Street: Rs 3,100 per sq.ft (2024)
• Kannagi Street: Rs 2,750 per sq.ft (2024)
• Kathayamman Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagambal Nagar / Street

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

Which Sub Registrar Office covers Karpagambal Nagar / Street?

Karpagambal Nagar / Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. This means that buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office will use the guideline value to calculate applicable fees and taxes. This ensures that the transaction is transparent and adheres to legal standards, providing a clear framework for both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Karpagambal Nagar / Street?

The current guideline value of Karpagambal Nagar / Street 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 391 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +603% over the years.

What is the stamp duty for property in Karpagambal Nagar / Street?

The stamp duty for property in Karpagambal Nagar / Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.

Which office handles registrations for Karpagambal Nagar / Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Karpagambal Nagar / Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value for streets in Ramapuram?

The median guideline value for streets in Ramapuram is Rs 3,100 per sq.ft, with Karpagambal Nagar / Street's value being below this median at Rs 2,750 per sq.ft.