Guideline Value for KARPAGAMBAL NAGAR

Karpagambal Nagar guideline value

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

How the guideline value of Karpagambal Nagar has changed

The guideline value for Karpagambal Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 1,044 per sq.ft, which increased to Rs 1,160 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,540 per sq.ft in 2007, a 33% increase from the previous revision. Following that, the rate jumped to Rs 10,500 per sq.ft in 2012, reflecting a substantial 582% increase. However, it decreased to Rs 7,035 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 10,500 per sq.ft in 2023, and finally, it reached Rs 11,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1002%. There are no figures available for revisions in years other than those listed.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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, making Karpagambal Nagar's 2024 figure above that median.

• Karpagambal Main Road: Rs 11,500 per sq.ft (2024)
• 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)
• Karpagam Avenue 1st Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagambal Nagar

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, and the registration fee at 2% would be Rs 2,30,000, bringing the total fees to Rs 10,35,000. 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 Nagar?

The Karpagambal Nagar area 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 is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karpagambal Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,044 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, marking a total increase of 1002% over the years.

What is the stamp duty for property in Karpagambal Nagar?

The stamp duty for property in Karpagambal Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karpagambal Nagar?

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

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, with Karpagambal Nagar's current value being above this median.