Guideline Value for KARTHIKEYAN NAGAR - ASA Street

KARTHIKEYAN NAGAR - ASA Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - ASA Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of KARTHIKEYAN NAGAR - ASA Street has changed

The guideline value for KARTHIKEYAN NAGAR - ASA Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 283 per sq.ft. In 2003, it increased to Rs 310 per sq.ft, marking a 10% rise. The value rose significantly to Rs 500 per sq.ft in 2007, representing a 61% increase. Following this, in 2012, the value was revised to Rs 3,000 per sq.ft, which was a substantial increase of 500% from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a 33% drop. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 3,300 per sq.ft, a rise of 10%.

In summary, from 2002 to 2024, the overall increase in the guideline value for KARTHIKEYAN NAGAR - ASA Street is 1066%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing KARTHIKEYAN NAGAR - ASA Street's 2024 figure above this median.

• KARTHIKEYAN NAGAR - Arunagiri Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Chandriar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Arangannal Street: Rs 3,300 per sq.ft (2024)
• Karthikeyan Nagar - Chockanathan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Appar 2nd Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Deivanai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - ASA Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total amount for both to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - ASA Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - ASA Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are charged on the higher of the guideline value or the sale price, ensuring that the transaction is conducted within the legal framework set by the authorities.

Frequently asked questions

What is the current guideline value for KARTHIKEYAN NAGAR - ASA Street?

The current guideline value for KARTHIKEYAN NAGAR - ASA Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1066% over the years.

What is the land classification for KARTHIKEYAN NAGAR - ASA Street?

The land classification for KARTHIKEYAN NAGAR - ASA Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the guideline value of Rs 33,00,000.

Which office handles the registration for KARTHIKEYAN NAGAR - ASA Street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, handles the registration for KARTHIKEYAN NAGAR - ASA Street.