Guideline Value for Karpaga Vinayagar Koil Street

Karpaga Vinayagar Koil Street guideline value

The current guideline value of Karpaga Vinayagar Koil Street is Rs 1,980 per sq.ft. This street is located in Kerugambakkam village, under the Pammal SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Karpaga Vinayagar Koil Street has changed

The guideline value for Karpaga Vinayagar Koil Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent 2024 revision has further raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value are only reflected from the 2017 revision onwards.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Karpaga Vinayagar Koil Street's 2024 figure below this median.

• Karthick Garden: Rs 2,530 per sq.ft (2024)
• Kannathasan Street: Rs 1,980 per sq.ft (2024)
• Kochar Arjun Garden: Rs 2,750 per sq.ft (2024)
• Kochar's Neetu Arjun Garden: Rs 2,860 per sq.ft (2024)
• Kolapakkam Road: Rs 2,860 per sq.ft (2024)
• Kamarajar Street: Rs 1,980 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 guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpaga Vinayagar Koil Street?

The Sub Registrar Office that covers Karpaga Vinayagar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property being transacted. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Karpaga Vinayagar Koil Street?

Karpaga Vinayagar Koil Street falls under the Residential Class II Type - II land classification, indicating its suitability for residential development.

Where can I find the registration office for Karpaga Vinayagar Koil Street?

The registration office for Karpaga Vinayagar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Karpaga Vinayagar Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.