Guideline Value for Karpagam Nagar

Karpagam Nagar guideline value

The current guideline value of Karpagam Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 4,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - I.

How the guideline value of Karpagam Nagar has changed

The guideline value for Karpagam Nagar has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a 650% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, which represented a 33% drop. The value further increased to Rs 4,500 per sq.ft in 2023, and the current revision in 2024 has set it at Rs 4,750 per sq.ft, reflecting a 6% increase from the previous year.

Between 2017 and 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 692%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that Karpagam Nagar's 2024 figure is above this median.

• Karpagam Nagar 1st Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karnam Street Ext: Rs 2,400 per sq.ft (2024)
• Karnam Street: Rs 2,400 per sq.ft (2024)
• Karpaga Vinayakar Koil Street: Rs 1,600 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 4,750 per sq.ft, the total guideline value amounts to Rs 47,50,000. The stamp duty at 7% would be Rs 3,32,500, and the registration fee at 2% would be Rs 95,000. Together, these charges total Rs 4,27,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpagam Nagar?

The Karpagam Nagar area falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration norms.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Karpagam Nagar?

The current guideline value of Karpagam Nagar is Rs 4,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 4,750 per sq.ft in 2024, which is an overall increase of 692%.

What is the land classification for Karpagam Nagar?

Karpagam Nagar is classified as Commercial Special Type - I, which indicates its use for commercial purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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, for a property valued at Rs 47,50,000, the stamp duty would be Rs 3,32,500 at a rate of 7%.