Guideline Value for Karpagam Gardens

Karpagam Gardens guideline value

The current guideline value of Karpagam Gardens, located in Alamathi village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Karpagam Gardens has changed

The guideline value for Karpagam Gardens has seen significant changes over the years. In 2003, the value was Rs 20 per sq.ft, which increased dramatically to Rs 200 per sq.ft in 2007. Following this, the value rose to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The value then increased to Rs 500 per sq.ft in 2023 before reaching the current rate of Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The largest increase occurred from 2003 to 2007, with a rise of 900%. Overall, from 2003 to 2024, the guideline value has surged by 2650%. The register does not have a figure for Karpagam Gardens for the year 2002.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with the median being Rs 550 per sq.ft. Karpagam Gardens' 2024 figure aligns with this median.

• Kamatchi Baba Colony: Rs 440 per sq.ft (2024)
• Grant City: Rs 990 per sq.ft (2024)
• Milk Depot Road: Rs 990 per sq.ft (2024)
• Mother Therasa Garden: Rs 550 per sq.ft (2024)
• Mother Therasa Garden Phase - III: Rs 550 per sq.ft (2024)
• Export Tayloring Employees Co-operative Society Co: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. 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 Karpagam Gardens?

The Sub Registrar Office that covers Karpagam Gardens is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is an essential reference point when buying or selling property in Alamathi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer purchases a property, the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher. This ensures transparency and helps in maintaining a standard for property transactions in the area.

Frequently asked questions

What is the current guideline value of Karpagam Gardens?

The current guideline value of Karpagam Gardens is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 20 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Alamathi with their guideline values?

Other streets in Alamathi include Kamatchi Baba Colony at Rs 440 per sq.ft, Grant City and Milk Depot Road both at Rs 990 per sq.ft, and Mother Therasa Garden, Mother Therasa Garden Phase - III, and Export Tayloring Employees Co-operative Society Co all at Rs 550 per sq.ft.

What is the stamp duty for property in Karpagam Gardens?

The stamp duty for property in Karpagam Gardens is 7% of the guideline value. For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.

Which office handles property registration for Karpagam Gardens?

The Redhills Sub Registrar Office handles property registration for Karpagam Gardens, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.