Guideline Value for Karpagam Nagar

Karpagam Nagar guideline value

The current guideline value of Karpagam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Karpagam Nagar has changed

The guideline value for Karpagam Nagar has seen several revisions over the years. Starting from Rs 683 per sq.ft in 2002, it increased to Rs 743 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 750 per sq.ft in 2007, a slight increase of 1%. The next significant jump occurred in 2012, where it remained at Rs 3,500 per sq.ft, following which it stayed the same until the 2023 revision.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and then it increased by 10% to reach the current value of Rs 3,850 per sq.ft in 2024. The overall increase from 2002 to 2024 is 464%, reflecting the changes in the real estate landscape over the years. There is no figure available for the 2017 revision for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value of Karpagam Nagar.

• Karpagam Avenue: Rs 4,400 per sq.ft (2024)
• Kashyapa Street: Rs 3,300 per sq.ft (2024)
• Kannammal Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Kannammal Garden: Rs 2,750 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. 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 falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When you buy or sell a property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karpagam Nagar?

The current guideline value of Karpagam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 683 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 464% over this period.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Karpagam Nagar?

Karpagam Nagar is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Karpagam Nagar?

Karpagam Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.