Guideline Value for KARTHIK AVENUE

Karthik Avenue guideline value

The current guideline value of Karthik Avenue is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Karthik Avenue has changed

The guideline value for Karthik Avenue has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 600 per sq.ft. The 2023 revision maintained this rate, and the same value continues into the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for Karthik Avenue in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 600 per sq.ft.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry 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, which aligns with the current guideline value of Karthik Avenue.

• Karthiga Puram: Rs 700 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 Karthik Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, leading to a total of Rs 54,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karthik Avenue?

Karthik Avenue falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 crucial during the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Karthik Avenue?

The current guideline value of Karthik Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value of Karthik Avenue changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a decrease to Rs 402 per sq.ft in 2017 and a subsequent increase of 49% by 2023.

What is the stamp duty rate applicable in Karthik Avenue?

The stamp duty rate applicable in Karthik Avenue is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Karthik Avenue?

The Chengleput Joint II Sub Registrar Office covers Karthik Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with legal requirements.