Guideline Value for KARTHIKEYAN NAGAR - Agathiyar Street

KARTHIKEYAN NAGAR - Agathiyar Street guideline value

The current guideline value of KARTHIKEYAN NAGAR - Agathiyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for KARTHIKEYAN NAGAR - Agathiyar Street has seen several revisions over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 310 per sq.ft in 2003. The value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value saw a notable increase to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,300 per sq.ft. There are no figures available for the years not listed in the register for this street.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, the increase was 61%; a substantial 500% increase occurred from 2007 to 2012; then a decrease of 33% from 2012 to 2017; followed by a 49% increase from 2017 to 2023; and finally, a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1066%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a guideline value for 2024 ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, making the 2024 guideline value of KARTHIKEYAN NAGAR - Agathiyar Street above the median.

• KARTHIKEYAN NAGAR 3rd Main Road: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Anjaneyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Appar 1st Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 2nd Main Road: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Appar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Agathiyar 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 to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Agathiyar Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Agathiyar 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 is a crucial factor in property transactions in Maduravoyal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The registration process requires adherence to the guideline value, which serves as a benchmark for property pricing in the area.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR - Agathiyar Street?

The current guideline value of KARTHIKEYAN NAGAR - Agathiyar 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 from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1066% over this period.

What is the land classification of KARTHIKEYAN NAGAR - Agathiyar Street?

KARTHIKEYAN NAGAR - Agathiyar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Agathiyar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.