Guideline Value for KARTHIKEYAN GARDEN

Karthikeyan Garden guideline value

The current guideline value of Karthikeyan Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Karthikeyan Garden has changed

The guideline value for Karthikeyan Garden has seen several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, indicating that Karthikeyan Garden's 2024 figure is below this median.

• Karpaga Vinayagar Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karthik Garden: 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 Karthikeyan Garden

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 fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthikeyan Garden?

The Karthikeyan Garden area falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for both buyers and sellers to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Karthikeyan Garden?

The current guideline value for Karthikeyan Garden 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Karthikeyan Garden?

Karthikeyan Garden is classified as Residential Class IV Type - II, indicating its designation for residential use.

What other streets have guideline values in Chemmancheri?

Other streets in Chemmancheri include Karpaga Vinayagar Street and Karpaga Vinayagar Koil Street, both at Rs 1,700 per sq.ft, and Karim Garden at Rs 3,300 per sq.ft, among others.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft incurs a total fee of Rs 99,000.