Guideline Value for Karpagam Nagar 3rd Street

Karpagam Nagar 3rd Street guideline value

The current guideline value of Karpagam Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Karpagam Nagar 3rd Street has seen several revisions. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 3,015 per sq.ft. The 2023 revision increased the value to Rs 4,500 per sq.ft, and the latest 2024 revision raised it to Rs 4,750 per sq.ft, marking a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this 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 that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the 2024 guideline value of Karpagam Nagar 3rd Street above this median.

• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 1st 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 3rd 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, bringing the total cost to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpagam Nagar 3rd Street?

Karpagam Nagar 3rd 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karpagam Nagar 3rd Street?

The current guideline value of Karpagam Nagar 3rd 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, marking a 6% increase. There was also a significant increase from Rs 3,015 per sq.ft in 2017 to Rs 4,500 per sq.ft in 2023, which is a 49% increase.

What is the land classification of Karpagam Nagar 3rd Street?

Karpagam Nagar 3rd Street is classified as Commercial Special Type - I. This classification can influence the types of developments allowed 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 Nagar 3rd Street?

Stamp duty for properties in Karpagam Nagar 3rd Street 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 7%.