Guideline Value for Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar)

Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) guideline value

The current guideline value of Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) has changed

The guideline value has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 7% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 300%, reflecting the dynamic nature of property values in this area.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, placing Karpaga Vinayagar Koil 1st cross Street above this median.

• Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karumari Street: Rs 1,700 per sq.ft (2024)
• Karunya Cross street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Karunya street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Kasilingam Cross Street (Iyappan nagar etxn.): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar)?

The Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is essential for legal documentation and compliance with local regulations during the property transfer process.

Frequently asked questions

What is the current guideline value of Karpaga Vinayagar Koil 1st cross Street?

The current guideline value of Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 300% over the years.

What is the land classification for Karpaga Vinayagar Koil 1st cross Street?

The land classification for Karpaga Vinayagar Koil 1st cross Street (Bhavani nagar) is Residential Special Type - III.

Where can I find the registration office for this street?

The registration office for Karpaga Vinayagar Koil 1st cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for property in this area?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.