Guideline Value for Karpaga Vinayagar Koil Street

Karpaga Vinayagar Koil Street guideline value

The current guideline value of Karpaga Vinayagar Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

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. Starting from the 2002 revision, the guideline value was Rs 408 per sq.ft. It increased to Rs 510 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, which was a 57% increase. In 2012, the value was adjusted to Rs 2,500 per sq.ft, reflecting a substantial 213% increase from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then saw a notable increase of 49%, reaching Rs 2,500 per sq.ft in 2023. Finally, the current revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year.

There are no figures available in the register for the years not mentioned above.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Karpaga Vinayagar Koil Street below that median.

• Karaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Kasi Vishwanathar Street: Rs 3,300 per sq.ft (2024)
• Kannan Street: Rs 3,850 per sq.ft (2024)
• Kannagi Street: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kesava Perumal Koil Street: Rs 3,300 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 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 Street?

The Sub Registrar Office that covers Karpaga Vinayagar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property is sold, the guideline value is used to determine the applicable fees, which are calculated on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and consistent across the region.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 408 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 574% over this period.

What is the land classification for Karpaga Vinayagar Koil Street?

Karpaga Vinayagar Koil Street is classified as Residential Class III Type - I.

Which Sub Registrar Office handles registrations for this street?

The Chennai South Joint II Sub Registrar Office handles registrations for Karpaga Vinayagar Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Karpaga Vinayagar Koil Street is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.