Guideline Value for Karpagam Nagar 2nd Street

Karpagam Nagar 2nd Street guideline value

The current guideline value of Karpagam Nagar 2nd 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 2nd Street has changed

The guideline value for Karpagam Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the previous value in 2017, which was Rs 3,015 per sq.ft. The 2023 revision saw an increase to Rs 4,500 per sq.ft, and the current 2024 revision has raised it further to Rs 4,750 per sq.ft, marking a 6% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Karpagam Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

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. The median value is Rs 2,200 per sq.ft, placing Karpagam Nagar 2nd Street's 2024 figure above that median.

• Karpagam Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,750 per sq.ft, the total guideline value is Rs 47,50,000. The stamp duty at 7% would be Rs 3,32,500, and the registration fee at 2% would be Rs 95,000, bringing the total to Rs 4,27,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpagam Nagar 2nd Street?

The Sub Registrar Office that covers Karpagam Nagar 2nd Street is 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 is an essential factor in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value for stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Karpagam Nagar 2nd 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 2023 to Rs 4,750 per sq.ft in 2024, which is a 6% increase. It was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification of Karpagam Nagar 2nd Street?

Karpagam Nagar 2nd Street is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

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 2nd 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%.