Guideline Value for Karpaga Vinayaga Koil Main Road

Karpaga Vinayaga Koil Main Road guideline value

The current guideline value of Karpaga Vinayaga Koil Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Karpaga Vinayaga Koil Main Road has changed

The guideline value for Karpaga Vinayaga Koil Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 234 per sq.ft, which increased to Rs 254 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, an increase of 176%. Following that, in 2012, the value was revised to Rs 2,000 per sq.ft, reflecting a decrease of 33% from the previous figure. The guideline value remained at Rs 2,000 per sq.ft until it was revised to Rs 1,340 per sq.ft in 2017, which represented a 49% increase. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, and the current guideline value is Rs 2,200 per sq.ft, showing a 10% increase from the previous year.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Karpaga Vinayaga Koil Main Road's 2024 guideline value is below this median.

• Karupannasamy Nagar: Rs 2,200 per sq.ft (2024)
• Kannaki Street: Rs 2,700 per sq.ft (2024)
• Kannaki Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannaki Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karpaga Vinayaga Koil Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karpaga Vinayaga Koil Main Road?

The Karpaga Vinayaga Koil Main Road is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is the minimum value considered for these calculations, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Karpaga Vinayaga Koil Main Road?

The current guideline value of Karpaga Vinayaga Koil Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 234 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 840% over the years.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000.

Which office handles the registration for Karpaga Vinayaga Koil Main Road?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for this road.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the higher of the guideline value or the sale price is considered for these calculations.