Guideline Value for Karpagam Nagar

Karpagam Nagar guideline value

The current guideline value of Karpagam Nagar, located in Thirumudivakkam village under the Padappai SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II 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. In 2012, the value was Rs 600 per sq.ft, which then dropped to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most notable change occurred between 2017 and 2023, where the value increased by 49% from Rs 402 per sq.ft to Rs 600 per sq.ft.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. Karpagam Nagar's 2024 guideline value is below this median.

• Karpagam Nagar Annexe: Rs 660 per sq.ft (2024)
• Kalaignar Street: Rs 1,320 per sq.ft (2024)
• Kulaswamini Ligasan Madha Nagar: Rs 660 per sq.ft (2024)
• Joyson Nagar (Garden): Rs 1,320 per sq.ft (2024)
• Kundrathur Road: Rs 1,320 per sq.ft (2024)
• Lakshmi Avenue: Rs 1,320 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karpagam Nagar?

Karpagam Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karpagam Nagar?

The current guideline value of Karpagam Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Karpagam Nagar?

Karpagam Nagar is classified as Residential Class II Type - I.

Where can I find the registration office for Karpagam Nagar?

The registration office for Karpagam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Karpagam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 6,60,000, leading to a stamp duty of Rs 46,200 at 7%.