Guideline Value for Karpagam Nagar 1st Street

Karpagam Nagar 1st Street guideline value

The current guideline value of Karpagam Nagar 1st Street is Rs 4,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Commercial Special Type - I.

How the guideline value of Karpagam Nagar 1st Street has changed

Over the years, the guideline value for Karpagam Nagar 1st Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 4,500 per sq.ft. This value remained the same in the next revision in 2017, which saw a decrease to Rs 3,015 per sq.ft. The value then increased significantly to Rs 4,500 per sq.ft in the 2023 revision, and finally rose to Rs 4,750 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 6% from 2023 to 2024. Overall, from 2012 to 2024, the value has increased by 6%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with 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. Karpagam Nagar 1st Street's 2024 guideline value is above this median.

• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar: Rs 4,750 per sq.ft (2024)
• Karpaga Vinayakar Koil Street: Rs 1,600 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 Karpagam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,750 per sq.ft, the total guideline value would be Rs 47,50,000. The stamp duty at 7% would amount to Rs 3,32,500, while the registration fee at 2% would be Rs 95,000. Together, the total cost for stamp duty and registration would be Rs 4,27,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karpagam Nagar 1st Street?

The Karpagam Nagar 1st 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, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This helps ensure that the property is not undervalued during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Karpagam Nagar 1st Street?

The current guideline value of Karpagam Nagar 1st Street is Rs 4,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,750 per sq.ft in 2024.

What is the land classification of Karpagam Nagar 1st Street?

Karpagam Nagar 1st Street is classified as Commercial Special Type - I, indicating its use for commercial purposes.

Where is the Selaiyur Sub Registrar Office located?

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 stamp duty calculated for properties in Karpagam Nagar 1st 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 47,50,000, the stamp duty would be Rs 3,32,500 at a rate of 7%.