Guideline Value for KARTHIKEYAN NAGAR - Iyappan Street

KARTHIKEYAN NAGAR - Iyappan Street guideline value

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

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

The guideline value for KARTHIKEYAN NAGAR - Iyappan Street has seen significant changes over the years. In 2002, the 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, representing a substantial increase of 61%. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, reflecting a 500% increase. However, it fell to Rs 2,010 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1066%. There are no figures available for revisions in years not listed above.

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, placing KARTHIKEYAN NAGAR - Iyappan Street above this median.

• KARTHIKEYAN NAGAR - Devi Karumari Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kalaimani street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Deivanai Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karmegam Street: Rs 3,300 per sq.ft (2024)
• Karthikeyan Nagar - Chockanathan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karunakara Perumal Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Iyappan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Iyappan Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Iyappan 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 when registering property in Maduravoyal. It is used to determine the stamp duty and registration fees that are applicable during the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value acts as a benchmark for the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Iyappan 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 increased 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 registration office for KARTHIKEYAN NAGAR - Iyappan Street?

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

How is stamp duty calculated for properties in this area?

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

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

Other streets in Maduravoyal with a guideline value of Rs 3,300 per sq.ft include Devi Karumari Street, Kalaimani Street, Deivanai Street, Karmegam Street, Chockanathan Street, and Karunakara Perumal Koil Street.