Guideline Value for Karpagam Avenue

Karpagam Avenue guideline value

The current guideline value of Karpagam Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Karpagam Avenue has changed

The guideline value of Karpagam Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. The subsequent revision in 2023 increased the value to Rs 1,800 per sq.ft, and the current 2024 revision has raised it further to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for Karpagam Avenue. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Karpagam Avenue's 2024 figure below this median.

• K.A.P. Viswanathan Street: Rs 2,400 per sq.ft (2024)
• Karunanidhi Main Road: Rs 1,600 per sq.ft (2024)
• Kathavarayan Nagar: Rs 950 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)
• Kirubha Nagar: Rs 850 per sq.ft (2024)
• Kamarajapuram Main Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, resulting in a total of Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Karpagam Avenue?

Karpagam Avenue 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Chembakkam. 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 according to government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Karpagam Avenue?

The current guideline value of Karpagam Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for Karpagam Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,00,000. The stamp duty at 7% is Rs 1,33,000, and the registration fee at 2% is Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers Karpagam Avenue?

Karpagam Avenue 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.

What is the land classification for Karpagam Avenue?

Karpagam Avenue falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.