Guideline Value for KARTHIK GARDEN

Karthik Garden guideline value

The current guideline value of Karthik Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class IV Type - I land classification.

How the guideline value of Karthik Garden has changed

The guideline value for Karthik Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which later dropped to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 13% increase. The register has no figures for Karthik Garden in the years 2002, 2003, and 2007.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the current value of Karthik Garden.

• Karthikeyan Garden: Rs 1,100 per sq.ft (2024)
• Karpaga Vinayagar Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karim Garden: Rs 3,300 per sq.ft (2024)
• Khajamohideen Garden: Rs 2,800 per sq.ft (2024)
• Kamatchi Nagar/Sri Kamatchi Nagar: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Garden?

Karthik Garden falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value, as it directly impacts the overall cost of registration. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karthik Garden?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty at 7% is Rs 1,19,000, and the registration fee at 2% is Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Karthik Garden?

The Neelankarai Sub Registrar Office handles registrations for Karthik Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Karthik Garden?

Karthik Garden is classified as Residential Class IV Type - I, which is important for determining its guideline value and usage.