Guideline Value for KARTHIK NAGAR EXTN

Karthik Nagar Extn guideline value

The current guideline value of Karthik Nagar Extn is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Adhanoor village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Karthik Nagar Extn has changed

Over the years, the guideline value for Karthik Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to return to Rs 1,000 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 years 2002, 2003, and 2007 in the register for this street. Therefore, the revisions we can reference are from 2012, 2017, 2023, and 2024.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 670 to Rs 3,000 per sq.ft. The median value across these streets is Rs 1,000 per sq.ft, which is the same as the current guideline value for Karthik Nagar Extn. Below are the guideline values for other streets in Adhanoor:

• Karthik Nagar: Rs 1,000 per sq.ft (2024)
• Karumuthu Thiyagaraja Nagar: Rs 1,000 per sq.ft (2024)
• Kavignar Kannadasan Nagar: Rs 1,000 per sq.ft (2024)
• Kannan Nagar: Rs 1,000 per sq.ft (2024)
• K.M.A. Avenue: Rs 1,000 per sq.ft (2024)
• K.M.A. Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the guideline value totals Rs 10,00,000. The stamp duty is charged at 7%, amounting to Rs 70,000, and the registration fee at 2%, which is Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar Extn?

The Karthik Nagar Extn area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adhanoor. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling a property, the guideline value serves as a benchmark for the transaction. It ensures that the property is registered at a value that reflects the current market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Karthik Nagar Extn?

The current guideline value of Karthik Nagar Extn is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft. Notably, it decreased to Rs 670 per sq.ft in 2017 but returned to Rs 1,000 per sq.ft by 2023.

What is the land classification for Karthik Nagar Extn?

Karthik Nagar Extn is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Karthik Nagar Extn?

The Gooduvancheri Sub Registrar Office covers Karthik Nagar Extn and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Karthik Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 and a registration fee of Rs 20,000, totaling Rs 90,000.