Guideline Value for KARTHIK NAGAR

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Kodipallam village under the Thiruvottiyur SRO, is Rs 248 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 14 per sq.ft, which increased significantly to Rs 15 per sq.ft in 2003. Following this, there was a substantial rise to Rs 225 per sq.ft in 2012, but it decreased to Rs 151 per sq.ft in 2017. The value then saw a significant increase to Rs 226 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 248 per sq.ft. It is important to note that the register has no figure for this street in 2007.

From 2017 to 2023, the guideline value increased by 50%. The jump from 2003 to 2012 was an impressive 1400%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2002 to 2024, the guideline value has risen by 1671%.

Guideline values in Kodipallam

Kodipallam village has 11 streets under the Thiruvottiyur SRO that carry a 2024 guideline value of Rs 248 per sq.ft. The guideline value for Karthik Nagar is equal to the median value of Rs 248 per sq.ft for these streets.

• New Clever City: Rs 248 per sq.ft (2024)
• New Star City Gold: Rs 248 per sq.ft (2024)
• Bhavani Amman Avenue: Rs 248 per sq.ft (2024)
• S.K.M. Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 248 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 248 per sq.ft, the total guideline value amounts to Rs 2,48,000. The stamp duty at 7% would be Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total fees to Rs 22,320. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodipallam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the transaction is recorded at the appropriate value.

When buying or selling property, it is essential to consider the guideline value as it can impact the overall costs involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14 per sq.ft in 2002 to Rs 248 per sq.ft in 2024, with various revisions in between, including significant increases and one decrease.

What is the stamp duty rate for properties in Karthik Nagar?

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

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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, ensuring that the transaction is recorded at the appropriate value.