Guideline Value for Karpaga Vinayakar Koil Street

Karpaga Vinayakar Koil Street guideline value

The current guideline value of Karpaga Vinayakar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Karpaga Vinayakar Koil Street has changed

Over the years, the guideline value of Karpaga Vinayakar Koil Street has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 233% increase. However, this value saw a decrease of 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision then raised the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, representing a 7% change from the previous year. The overall increase from 2007 to 2024 is 256%.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. The changes reflect the fluctuations in the guideline values over the years, indicating how property values can vary with time.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Karpaga Vinayakar Koil Street's current value of Rs 1,600 per sq.ft is below this median.

• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 1st Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar: Rs 4,750 per sq.ft (2024)
• Karnam Street Ext: Rs 2,400 per sq.ft (2024)
• Karnam Street: Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpaga Vinayakar Koil Street?

Karpaga Vinayakar Koil Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When registering a property, the guideline value helps determine the official value of the property for taxation purposes. It is essential for both parties 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 Vinayakar Koil Street?

The current guideline value of Karpaga Vinayakar Koil Street 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 from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

What is the land classification for Karpaga Vinayakar Koil Street?

Karpaga Vinayakar Koil Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

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 a rate of 7%.