Guideline Value for Karpaga Vinayagar Koil Street

Karpaga Vinayagar Koil Street guideline value

The current guideline value of Karpaga Vinayagar Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Karpaga Vinayagar Koil Street has changed

The guideline value for Karpaga Vinayagar Koil Street has seen several revisions over the years. In 2002, the value was Rs 389 per sq.ft, which increased to Rs 423 per sq.ft in 2003, marking a 9% rise. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, a 400% increase from the previous figure. By 2012, the value was Rs 5,000 per sq.ft, reflecting a decrease of 33% from the 2007 revision.

The upward trend resumed with the 2017 revision, where the guideline value was set at Rs 3,350 per sq.ft, an increase of 49% from 2012. The most recent revision in 2023 raised the value to Rs 5,000 per sq.ft, which was then further increased to Rs 5,500 per sq.ft in 2024, a 10% rise. The register has no figures for the years between these revisions.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO, with 2024 figures ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 5,000 per sq.ft, making Karpaga Vinayagar Koil Street's current value above this median.

• Kambar Street / Reddy Street: Rs 5,500 per sq.ft (2024)
• Kaji Sayabu Street: Rs 4,400 per sq.ft (2024)
• Jilani sayabu Street: Rs 4,400 per sq.ft (2024)
• Jal Naiken Street: Rs 4,400 per sq.ft (2024)
• Lawyer Jaganatha Street: Rs 5,500 per sq.ft (2024)
• Ibrahim Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Karpaga Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Street?

The Karpaga Vinayagar Koil Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Alandur, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable to the property sale.

When buying or selling property, the guideline value ensures transparency and fairness in the registration process, helping to prevent undervaluation of properties. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

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

The current guideline value of Karpaga Vinayagar Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 389 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1314% over the years.

What is the stamp duty for property in Karpaga Vinayagar Koil Street?

The stamp duty for property in Karpaga Vinayagar Koil Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Alandur?

The median guideline value for streets in Alandur is Rs 5,000 per sq.ft, with Karpaga Vinayagar Koil Street's 2024 figure being above this median.