Guideline Value for KARTHIKEYAN NAGAR - Mahendran Street

KARTHIKEYAN NAGAR - Mahendran Street guideline value

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

Over the years, the guideline value for KARTHIKEYAN NAGAR - Mahendran Street has seen significant changes. In 2007, the guideline value was Rs 500 per sq.ft. This figure increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 500%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 560%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Maduravoyal

In total, there are 636 streets in Maduravoyal 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, and KARTHIKEYAN NAGAR - Mahendran Street's 2024 figure is above this median.

• KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Manikkavasagar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kavalar Kudiyiruppu Sandhu: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Menakshi Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Karunakara Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Mulayam Singh Yadav Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Mahendran 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 fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Mahendran Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Mahendran 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 details.

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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. It ensures that the transaction is recorded at a value that reflects the official rates set by the government.

During the registration process, buyers and sellers must be aware that the fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for accurate financial planning during property transactions.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Mahendran 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 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for this area?

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

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in this area?

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