Guideline Value for KARTHIKEYAN NAGAR - Appar 2nd Street

KARTHIKEYAN NAGAR - Appar 2nd Street guideline value

The current guideline value of KARTHIKEYAN NAGAR - Appar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of KARTHIKEYAN NAGAR - Appar 2nd Street has changed

The guideline value for KARTHIKEYAN NAGAR - Appar 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. This increased to Rs 310 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which then dropped to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023 before reaching the current value of Rs 3,300 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. The 2007 to 2012 period saw a remarkable increase of 500%, and the 2003 to 2007 period recorded an increase of 61%. Lastly, from 2002 to 2003, the value rose by 10%. 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 that carry a 2024 guideline value 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, placing KARTHIKEYAN NAGAR - Appar 2nd Street above this median.

• KARTHIKEYAN NAGAR - Appar 1st Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Arangannal Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Anjaneyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Arunagiri Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Agathiyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - ASA Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Appar 2nd 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Appar 2nd Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Appar 2nd 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 details.

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

The guideline value is a crucial factor 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. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that the transaction is recorded accurately and that the necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR - Appar 2nd Street?

The current guideline value of KARTHIKEYAN NAGAR - Appar 2nd 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 undergone several revisions, increasing 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 stamp duty rate for properties in this area?

The stamp duty rate for properties in KARTHIKEYAN NAGAR - Appar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Virugambakkam Sub Registrar Office, which covers KARTHIKEYAN NAGAR - Appar 2nd Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for KARTHIKEYAN NAGAR - Appar 2nd Street?

The land classification for KARTHIKEYAN NAGAR - Appar 2nd Street is Residential Class II Type - I.