Guideline Value for KARTHIK AVENUE

Karthik Avenue guideline value

The current guideline value of Karthik Avenue in Kolathuvancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Karthik Avenue has changed

The guideline value for Karthik Avenue has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, this figure dropped to Rs 603 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 900 per sq.ft, and the latest revision in 2024 has set it at Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 98%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Karthik Avenue is below this median.

• Karthik Avenue 1st Street: Rs 990 per sq.ft (2024)
• Karthik Avenue 2nd Street: 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

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Avenue?

Karthik Avenue is covered by 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karthik Avenue?

The current guideline value of Karthik Avenue 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 500 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 98% over the years.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, with Karthik Avenue's value being below this median.

What are the stamp duty and registration fees for Karthik Avenue?

For a 1,000 sq.ft plot at Rs 990 per sq.ft, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Karthik Avenue?

The registrations for Karthik Avenue are handled by 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.