Guideline Value for KARTHIKEYAN NAGAR - Appar 1st Street

KARTHIKEYAN NAGAR - Appar 1st Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Appar 1st 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 - Appar 1st Street has changed

The guideline value for KARTHIKEYAN NAGAR - Appar 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. In 2003, it increased to Rs 310 per sq.ft, marking a 10% rise. The 2007 revision saw a significant jump to Rs 500 per sq.ft, reflecting a 61% increase. By 2012, the value rose to Rs 3,000 per sq.ft, a 500% increase from 2007. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,066%. Notably, there are no figures recorded for the years that do not appear in this list for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 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 - Appar 1st Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Appar 1st 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. The total cost for these fees would be Rs 2,97,000. It is important to note that 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 more details.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Appar 1st Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Appar 1st 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 in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction. This ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR - Appar 1st Street?

The current guideline value of KARTHIKEYAN NAGAR - Appar 1st 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, marking an overall increase of 1,066% over this period.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal that share the same guideline value of Rs 3,300 per sq.ft in 2024 include KARTHIKEYAN NAGAR - Anjaneyar Street, KARTHIKEYAN NAGAR - Appar 2nd Street, KARTHIKEYAN NAGAR - Agathiyar Street, KARTHIKEYAN NAGAR - Arangannal Street, and KARTHIKEYAN NAGAR 3rd Main Road.

What is the registration fee for property in this area?

The registration fee for property in KARTHIKEYAN NAGAR - Appar 1st Street is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

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

The Sub Registrar Office covering KARTHIKEYAN NAGAR - Appar 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can also find more information online.