Guideline Value for KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street

KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street guideline value

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

How the guideline value of KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street has changed

The guideline value for KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan 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. The value rose significantly to Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, culminating in the current rate of Rs 3,300 per sq.ft in 2024.

Notably, there are no figures available for the revisions in years not mentioned. The changes between revisions are as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, it rose by 61%; from 2007 to 2012, it decreased by 33%; from 2012 to 2017, it dropped by 33%; from 2017 to 2023, it surged by 49%; and from 2023 to 2024, it increased 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 for these streets is Rs 3,050 per sq.ft, making the current value for KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street above this median.

• KARTHIKEYAN NAGAR - Kavalar Kudiyiruppu Sandhu: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Mahendran Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karunakara Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Manikkavasagar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karmegam Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Menakshi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan 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 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 specific calculations.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan 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 plays a crucial role in property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware that the guideline value is the benchmark for these charges, ensuring transparency in property dealings.

When a property is sold, the guideline value is referenced to calculate the applicable fees. If the sale price is higher than the guideline value, the duty will be charged based on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street?

The current guideline value for KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan 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 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 this street?

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

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find more information about stamp duty and registration fees?

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