Guideline Value for Karpagam Avenue 2nd Street

Karpagam Avenue 2nd Street guideline value

The current guideline value of Karpagam Avenue 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Karpagam Avenue 2nd Street has changed

The guideline value for Karpagam Avenue 2nd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft. This figure decreased to Rs 1,072 per sq.ft in 2017, marking a significant drop of 33%. However, from 2017 to 2024, the value increased by 59%, bringing it to the current rate of Rs 1,700 per sq.ft.

It is important to note that there are no registered figures for this street in the years 2002, 2003, 2007, and 2023. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Karpagam Avenue 2nd Street is below this median.

• Karpagam Avenue 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue Main Road: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue 1st Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue Main Road 1st Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Karpagam Avenue Main Road 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Karpagam Avenue 2nd Street?

The Karpagam Avenue 2nd Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (Opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures compliance with local regulations and proper documentation of the transaction.

Frequently asked questions

What is the current guideline value of Karpagam Avenue 2nd Street?

The current guideline value of Karpagam Avenue 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then increased to Rs 1,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Karpagam Avenue 2nd Street?

Karpagam Avenue 2nd Street is classified as Residential Class I Type - II. This classification affects the guideline value and property usage in the area.

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. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Karpagam Avenue 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,19,000.