Guideline Value for Karpakambal Nagar 2nd Street

Karpakambal Nagar 2nd Street guideline value

The current guideline value of Karpakambal Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Karpakambal Nagar 2nd Street has changed

The guideline value for Karpakambal Nagar 2nd Street has seen several revisions over the years. In 2003, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2007. The value then rose to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. Following this, the value increased to Rs 4,000 per sq.ft in 2023 and finally to Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a 10% increase. The overall change from 2003 to 2024 is a remarkable 340%. The register has no figure for this street in the year 2002.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Karpakambal Nagar 2nd Street's 2024 value above this median.

• Karpakambal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Karpagambal Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Karumari Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Karumari Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Kasthuribai Nagar: Rs 3,300 per sq.ft (2024)
• Kannappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karpakambal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karpakambal Nagar 2nd Street?

The Karpakambal Nagar 2nd Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kottivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Karpakambal Nagar 2nd Street?

The current guideline value of Karpakambal Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Karpakambal Nagar 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Karpakambal Nagar 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Karpakambal Nagar 2nd Street?

Karpakambal Nagar 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.