Guideline Value for KARTHIKEYAN NAGAR - Manikkavasagar Street

KARTHIKEYAN NAGAR - Manikkavasagar Street guideline value

The current guideline value of KARTHIKEYAN NAGAR - Manikkavasagar 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 - Manikkavasagar Street has changed

The guideline value for KARTHIKEYAN NAGAR - Manikkavasagar Street has seen several revisions over the years. In 2002, the guideline value was Rs 283 per sq.ft. This figure increased to Rs 310 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 500 per sq.ft in 2007, which was a significant increase of 61%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 500% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The guideline value then 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 the revisions in years other than those listed above for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value range 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, making the 2024 figure for KARTHIKEYAN NAGAR - Manikkavasagar Street above that median.

• KARTHIKEYAN NAGAR - Mahendran Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Menakshi Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kovilpatti Gopala Krishnan Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Mulayam Singh Yadav Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Kavalar Kudiyiruppu Sandhu: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Manikkavasagar 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 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 detailed calculations.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Manikkavasagar Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Manikkavasagar 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 transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller enters into a transaction, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official registry. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR - Manikkavasagar Street?

The current guideline value of KARTHIKEYAN NAGAR - Manikkavasagar 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 the years.

What is the land classification for this street?

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

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 Sub Registrar Office covers this street?

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