Guideline Value for KARTHIK GARDEN

Karthik Garden guideline value

The current guideline value of Karthik Garden, located in Karunakacherry village, is Rs 200 per sq.ft. This value is effective from 1 July 2024 and is classified under Mixed Type - II land classification. The property falls under the jurisdiction of the Salavakkam Sub Registrar Office (SRO).

How the guideline value of Karthik Garden has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased by 33% to Rs 134 per sq.ft. The value then increased significantly by 49% in the 2023 revision, bringing it back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Karthik Garden. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, indicating stability in this period.

Guideline values in Karunakacherry

In Karunakacherry village, there are 10 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Karthik Garden's 2024 figure above that median.

• Ganaprakasham Nagar: Rs 100 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)
• New Laural Nagar: Rs 151 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)
• Sachin Nagar Extension: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Garden

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthik Garden?

The Karthik Garden area is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Karunakacherry. It is used to determine the stamp duty and registration fees payable, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It provides a reference point that can assist in negotiations and ensures compliance with local regulations 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 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease in 2017 to Rs 134 per sq.ft, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024. Overall, the value has remained stable from 2012 to 2024.

What is the land classification of Karthik Garden?

Karthik Garden is classified under Mixed Type - II land classification, which indicates a diverse use of land in the area.

Where can I find the registration office for Karthik Garden?

The registration office covering Karthik Garden is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, Chengalpattu.

How is stamp duty calculated for properties in Karthik Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at a rate of 7%.