Guideline Value for Karpagavalli Nagar

Karpagavalli Nagar guideline value

The current guideline value of Karpagavalli Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Karpagavalli Nagar has changed

Over the years, the guideline value for Karpagavalli Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 700% rise. However, it dropped to Rs 536 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 800 per sq.ft in 2023 and again in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 700%. The register for the years 2002 and 2003 has no figures for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Karpagavalli Nagar's 2024 figure above that median.

• Karumariamman Kovil Street: Rs 800 per sq.ft (2024)
• Kasthuribai Street: Rs 300 per sq.ft (2024)
• Kambar Street: Rs 600 per sq.ft (2024)
• Kamarajar Street: Rs 600 per sq.ft (2024)
• Kalliamman Kovil Street: Rs 300 per sq.ft (2024)
• Kaideymilleth Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Karpagavalli Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpagavalli Nagar?

The Karpagavalli Nagar area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Molachoor. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum price at which property transactions are recorded.

When registering a property, the guideline value ensures that the transaction is documented at a fair price, preventing undervaluation. This helps maintain transparency and integrity in property dealings within the region.

Frequently asked questions

What is the current guideline value of Karpagavalli Nagar?

The current guideline value of Karpagavalli Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 100 per sq.ft to Rs 800 per sq.ft in 2012, then dropping to Rs 536 per sq.ft in 2017, and remaining at Rs 800 per sq.ft in 2023 and 2024.

What is the land classification for Karpagavalli Nagar?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 72,000.

Which Sub Registrar Office serves Karpagavalli Nagar?

The Sunguvarchattram Sub Registrar Office serves Karpagavalli Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.