Guideline Value for Karpagam Nagar

Karpagam Nagar guideline value

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

How the guideline value of Karpagam Nagar has changed

The guideline value for Karpagam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2017 to 2024 is 64%. This reflects the significant changes in the guideline value over the past few revisions.

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. The median guideline value in this area is Rs 1,600 per sq.ft, placing Karpagam Nagar's 2024 figure above that median.

• Karpagam Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar , Ponniammanmedu (Ward-23): 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

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 be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpagam Nagar?

Karpagam Nagar is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Karpagam Nagar?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with Karpagam Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for Karpagam Nagar?

The stamp duty for a property in Karpagam Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Karpagam Nagar?

The Madhavaram Sub Registrar Office covers Karpagam Nagar and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.