Guideline Value for KARTHIKEYAN NAGAR - Karmegam Street

KARTHIKEYAN NAGAR - Karmegam Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Karmegam 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 it falls under the Residential Class II Type - I land classification.

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

The guideline value for KARTHIKEYAN NAGAR - Karmegam 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 had jumped to Rs 500 per sq.ft, reflecting a substantial increase of 61%. The 2012 revision saw a further increase to Rs 3,000 per sq.ft, which was a 500% rise from the previous figure. However, in 2017, the value dropped to Rs 2,010 per sq.ft, showing a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,066%. Notably, there are no figures available for the years that do not have a specified revision 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 value for these streets is Rs 3,050 per sq.ft, placing KARTHIKEYAN NAGAR - Karmegam Street above this median.

• KARTHIKEYAN NAGAR - Kalaimani street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karunakara Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Iyappan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kavalar Kudiyiruppu Sandhu: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Devi Karumari Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Karmegam Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Karmegam Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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 is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

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

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

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

KARTHIKEYAN NAGAR - Karmegam Street falls under the Residential Class II Type - I land classification.

What is the registration office for this street?

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

How is the stamp duty calculated for properties in Maduravoyal?

Stamp duty for properties in Maduravoyal is calculated based on the higher of the guideline value or the sale price. This ensures that the correct fees are applied during the registration process.