Guideline Value for Karpagam Nagar Annexe

Karpagam Nagar Annexe guideline value

The current guideline value of Karpagam Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Karpagam Nagar Annexe has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,200 per sq.ft, marking a significant increase of 64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value for Karpagam Nagar Annexe has seen a substantial increase since the last recorded revision in 2017. The current rate reflects the ongoing changes in the property landscape within the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Karpagam Nagar Annexe is above this median, indicating its relative position in the area.

• Karpagam Nagar , Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Karpagam Nagar: Rs 2,200 per sq.ft (2024)
• Karthick Avenue: Rs 2,200 per sq.ft (2024)
• Karthick Nagar: Rs 2,200 per sq.ft (2024)
• Karthik Nagar (Ward-29): Rs 2,200 per sq.ft (2024)
• Karthik Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagam Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would amount to Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karpagam Nagar Annexe?

The Karpagam Nagar Annexe falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karpagam Nagar Annexe?

The current guideline value of Karpagam Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, which recorded a value of Rs 1,340 per sq.ft, the guideline value has increased to Rs 2,200 per sq.ft in 2024, reflecting a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Karpagam Nagar Annexe?

Karpagam Nagar Annexe is classified as Residential Class I Type - I. This classification indicates the type of development permissible in the area.

What is the registration office for Karpagam Nagar Annexe?

The registration office for Karpagam Nagar Annexe is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.