Guideline Value for KARTHIK NAGAR

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Karthik Nagar has changed

The guideline value of Karthik Nagar has seen several revisions over the years. In 2003, the value was Rs 117 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision set the value at Rs 1,000 per sq.ft, but it dropped to Rs 670 per sq.ft in 2017. The value then rose significantly to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

From 2003 to 2024, the overall increase in the guideline value is a substantial 840%. The changes between specific revisions include a 327% increase from 2003 to 2007, a 100% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Karthik Nagar is below this median.

• Karthik Nagar (Near Ecr): Rs 3,300 per sq.ft (2024)
• Kohinoor Complex: Rs 3,900 per sq.ft (2024)
• KOHINOOR COMPLEX 1st CROSS SALAI: Rs 3,900 per sq.ft (2024)
• KOHINOOR COMPLEX 2nd CROSS SALAI: Rs 3,900 per sq.ft (2024)
• KOHINOOR COMPLEX 3rd CROSS SALAI: Rs 3,900 per sq.ft (2024)
• Kamarajar Street (Vettuvankeni): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar falls under 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with local regulations. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 117 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 840% over this period.

Which Sub Registrar Office handles Karthik Nagar?

Karthik Nagar is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the stamp duty for property in Karthik Nagar?

The stamp duty for property in Karthik Nagar is 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 77,000 based on the current guideline value.

What are the guideline values of other streets in Enjambakkam?

Other streets in Enjambakkam have varying guideline values. For instance, Karthik Nagar (Near Ecr) is Rs 3,300 per sq.ft, while Kohinoor Complex is Rs 3,900 per sq.ft in 2024.