Guideline Value for Karpagam Nagar Annex

Karpagam Nagar Annex guideline value

The current guideline value of Karpagam Nagar Annex is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village under the Redhills SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Karpagam Nagar Annex has changed

The guideline value for Karpagam Nagar Annex has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 35 per sq.ft. In the 2007 revision, it increased significantly to Rs 600 per sq.ft, marking a rise of 1614%. The 2012 revision saw a decrease to Rs 800 per sq.ft, which was a drop of 33%. The value then rose again to Rs 536 per sq.ft in the 2017 revision, representing a 49% increase from the previous figure. The 2023 revision set the value at Rs 800 per sq.ft, before the latest increase to Rs 880 per sq.ft in 2024, which is a 10% rise.

It is important to note that there is no figure available for the year 2002 for this street in the register. Overall, from 2003 to 2024, the guideline value has increased by 2414%.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. Karpagam Nagar Annex's 2024 figure of Rs 880 per sq.ft is above this median.

• Karpagam Nagar: Rs 880 per sq.ft (2024)
• Karikal Cholan Salai: Rs 660 per sq.ft (2024)
• Karalmarks Nagar: Rs 660 per sq.ft (2024)
• Kattabomman Street: Rs 660 per sq.ft (2024)
• Kandasamy Nagar: Rs 880 per sq.ft (2024)
• Kavery Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpagam Nagar Annex?

The Karpagam Nagar Annex is covered by 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Grandlyon. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When you register a property, the guideline value serves as a benchmark for calculating the necessary fees. This ensures that the transaction is documented accurately and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Karpagam Nagar Annex?

The current guideline value of Karpagam Nagar Annex is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 2414% over the years.

What is the registration office for Karpagam Nagar Annex?

The registration office for Karpagam Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Karpagam Nagar Annex?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600.

What is the land classification for Karpagam Nagar Annex?

Karpagam Nagar Annex is classified as Residential Special Type - I, which is important for understanding the zoning and usage of properties in the area.