Guideline Value for KARTHIKEYAN NAGAR - Devi Karumari Street

KARTHIKEYAN NAGAR - Devi Karumari Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Devi Karumari 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 - Devi Karumari Street has changed

The guideline value for KARTHIKEYAN NAGAR - Devi Karumari Street has seen significant changes 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. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 61% increase. The 2012 revision brought it back to Rs 3,000 per sq.ft, a substantial 500% increase from the previous value. However, in 2017, it decreased to Rs 2,010 per sq.ft, representing a 33% drop. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1066%. The register has no figures for the years not mentioned in this overview.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with 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 - Devi Karumari Street above this median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Devi Karumari 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 cost for stamp duty and registration fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Devi Karumari Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Devi Karumari 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 critical factor in the property registration process in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during property transactions. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory payments that must be made to the government. It is essential for both parties involved in the transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Devi Karumari 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, with various increases and decreases over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, and KARTHIKEYAN NAGAR - Devi Karumari Street is above this median.

What are the stamp duty and registration fees for a 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 office handles the registration for this street?

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