Guideline Value for KARTHIKEYAN NAGAR - Deivanai Street

KARTHIKEYAN NAGAR - Deivanai Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Deivanai 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 - Deivanai Street has changed

The guideline value for KARTHIKEYAN NAGAR - Deivanai Street has seen several revisions over the years. In 2002, the guideline value was Rs 283 per sq.ft, which increased to Rs 310 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 500 per sq.ft in 2007, reflecting a 61% increase. By 2012, the value was Rs 3,000 per sq.ft, which was a 500% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased to Rs 3,300 per sq.ft in 2024, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,066% for this street. There are no figures available for the revisions in the years not mentioned.

Guideline values in Maduravoyal

Within 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 - Deivanai Street above this median.

• Karthikeyan Nagar - Chockanathan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Devi Karumari Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Chandriar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Iyappan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - ASA Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kalaimani street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Deivanai 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, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Deivanai Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Deivanai 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 during the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing market conditions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Deivanai 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, representing an overall increase of 1,066% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

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

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

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