Guideline Value for Karpagambal Street

Karpagambal Street guideline value

The current guideline value of Karpagambal Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Karpagambal Street has changed

Looking back at the revisions, the guideline value for Karpagambal Street was Rs 400 per sq.ft in 2007. It saw a significant increase to Rs 2,200 per sq.ft in 2012, followed by a decrease to Rs 1,474 per sq.ft in 2017. The value then rose sharply to Rs 2,200 per sq.ft in 2023, before reaching the current rate of Rs 2,380 per sq.ft in 2024. The changes between these revisions are notable, with an overall increase of 495% from 2007 to 2024.

From 2023 to 2024, there was an increase of 8%. The increase from 2017 to 2023 was 49%, while the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was a remarkable 450%. The register has no figures for Karpagambal Street for the years 2002 and 2003.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which means Karpagambal Street's 2024 figure is below that median.

• Karumarriyamman Koil 1st Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Karumarriyamman Koil Nalvar Street: Rs 3,850 per sq.ft (2024)
• Karunanithi Nagar: Rs 2,420 per sq.ft (2024)
• Kannammal Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagambal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would be Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, making the total cost for these fees Rs 2,14,200. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpagambal Street?

Karpagambal Street falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all parties involved adhere to the financial obligations set by the state.

Frequently asked questions

What is the current guideline value of Karpagambal Street?

The current guideline value of Karpagambal Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 400 per sq.ft in 2007, increasing to Rs 2,200 in 2012, decreasing to Rs 1,474 in 2017, then rising to Rs 2,200 in 2023, and finally reaching Rs 2,380 in 2024.

What is the median guideline value in Hastinapuram?

The median guideline value for streets in Hastinapuram is Rs 2,970 per sq.ft for the year 2024, which is higher than the current value of Karpagambal Street.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600 and the registration fee would be Rs 47,600.