Guideline Value for Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar)

Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar) guideline value

The current guideline value of Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, and the land classification is Residential Special Type - III.

How the guideline value of Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar) has changed

Over the years, the guideline value of Karpaga Vinayagar Koil 2nd cross Street has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 275%. However, it dropped to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased dramatically to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft from the 2024 revision, showing a rise of 7% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

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 for these streets is Rs 1,300 per sq.ft, placing Karpaga Vinayagar Koil 2nd cross Street's 2024 figure above this median.

• Karpaga Vinayagar Koil 1st 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 2nd cross Street (Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling 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 further assistance.

Which Sub Registrar Office covers Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar)?

The Karpaga Vinayagar Koil 2nd 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when registering a property. This value is set by the Registration Department and is regularly updated to reflect changes in the real estate market.

When you buy or sell a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Karpaga Vinayagar Koil 2nd cross Street?

The current guideline value of Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 300% over the years.

What is the land classification for this street?

The land classification for Karpaga Vinayagar Koil 2nd cross Street (Bhavani nagar) is Residential Special Type - III.

Where can I find the registration office for this area?

The registration office covering Karpaga Vinayagar Koil 2nd 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 stamp duty calculated for properties in this area?

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