Guideline Value for KARTHIGA PURAM

Karthiga Puram guideline value

The current guideline value of Karthiga Puram is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Karthiga Puram has changed

Over the years, the guideline value for Karthiga Puram has seen several revisions. In 2007, the guideline value was Rs 54 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017 before stabilizing at Rs 700 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was an increase of 49%, while the period from 2007 to 2012 saw a remarkable increase of 1196%. Overall, from 2007 to 2024, the guideline value has increased by 1196%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median value for these streets is Rs 600 per sq.ft, making Karthiga Puram's 2024 figure of Rs 700 per sq.ft above the median.

• Karthik Avenue: Rs 600 per sq.ft (2024)
• Karumari Amman Nagar: Rs 600 per sq.ft (2024)
• Krishnanagar: Rs 600 per sq.ft (2024)
• Kamadhenu Avenue: Rs 700 per sq.ft (2024)
• J.P.Jai Residency: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Karthiga Puram

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthiga Puram?

Karthiga Puram is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in assessing the legal and financial obligations involved in the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karthiga Puram?

The current guideline value of Karthiga Puram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 54 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, with fluctuations in between, including a drop to Rs 469 per sq.ft in 2017. The value remained stable at Rs 700 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur is Rs 600 per sq.ft, while Karthiga Puram's 2024 figure is above this median at Rs 700 per sq.ft.

What are the stamp duty and registration fees for property in Karthiga Puram?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. This is calculated based on the guideline value.

Which office handles property registration for Karthiga Puram?

The Chengleput Joint II Sub Registrar Office handles property registration for Karthiga Puram, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.