Guideline Value for KARTHIK AVENUE 2ND STREET

Karthik Avenue 2nd Street guideline value

The current guideline value of Karthik Avenue 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Karthik Avenue 2nd Street has changed

The guideline value for Karthik Avenue 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 900 per sq.ft. In 2017, the value decreased to Rs 603 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 900 per sq.ft in 2023, and further rose to Rs 990 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 figure to the 2024 figure is an increase of 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which means Karthik Avenue 2nd Street's current guideline value is below that median.

• Karthik Avenue 1st Street: Rs 990 per sq.ft (2024)
• Karthik Avenue: Rs 990 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar: Rs 2,200 per sq.ft (2024)
• Kesavarthini Nagar 10th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for duty and registration to Rs 89,100. Duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karthik Avenue 2nd Street?

The Sub Registrar Office covering Karthik Avenue 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the sale or purchase of property.

When buying or selling property, it is essential to consider the guideline value, as it ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Karthik Avenue 2nd Street?

The current guideline value of Karthik Avenue 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

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

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 9,90,000, with stamp duty at Rs 69,300 and registration fee at Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Karthik Avenue 2nd Street?

The Chennai South Joint I Sub Registrar Office covers Karthik Avenue 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Karthik Avenue 2nd Street?

The land classification for Karthik Avenue 2nd Street is Residential Class IV Type - II.