Guideline Value for Karpagambal Nagar

Karpagambal Nagar guideline value

The current guideline value of Karpagambal Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Karpagambal Nagar has changed

The guideline value for Karpagambal Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 965 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 232%. However, from 2012 to 2017, the value decreased to Rs 2,144 per sq.ft, a drop of 33%. The value then rose again to Rs 3,200 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, an increase of 10% from the previous year.

It is important to note that the guideline register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 265%.

Guideline values in Madanandapuram

Madanandapuram village has 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, which is equal to the current guideline value for Karpagambal Nagar.

• Karpagambal Nagar Annuxe: Rs 3,520 per sq.ft (2024)
• Karumari Amman Nagar: Rs 3,520 per sq.ft (2024)
• Kannappan Nagar: Rs 3,520 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 3,520 per sq.ft (2024)
• Kalyani Avenue: Rs 3,190 per sq.ft (2024)
• Kalyan Avenue: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. 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 Karpagambal Nagar?

The Karpagambal Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madanandapuram. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Additionally, understanding the guideline value helps buyers and sellers navigate the legal requirements and costs associated with property transactions in the area. It ensures that all parties are aware of the financial implications before proceeding with a sale.

Frequently asked questions

What is the current guideline value of Karpagambal Nagar?

The current guideline value of Karpagambal Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 965 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 265% over the years.

What is the land classification for Karpagambal Nagar?

Karpagambal Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the registration office for Karpagambal Nagar?

The registration office for Karpagambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Karpagambal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,46,400.