Guideline Value for KARTHIKEYAN NAGAR - Menakshi Street

KARTHIKEYAN NAGAR - Menakshi Street guideline value

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

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

The guideline value for this street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. It increased to Rs 310 per sq.ft in 2003, marking a change of +10%. The 2007 revision saw a significant jump to Rs 500 per sq.ft, which is an increase of +61%. In 2012, the value was revised to Rs 3,000 per sq.ft, reflecting a decrease of -33%. The 2017 revision brought the value up to Rs 2,010 per sq.ft, an increase of +49%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,300 per sq.ft, a change of +10%.

There are no figures available for the revisions in years not listed above. The overall change from 2002 to 2024 reflects an increase of +1066% in the guideline value.

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 the 2024 guideline value for KARTHIKEYAN NAGAR - Menakshi Street above that median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Menakshi 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, bringing the total fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Menakshi Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Menakshi 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 aspect of property transactions in Maduravoyal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is valued correctly according to the guideline value can help avoid any legal issues during the registration process.

Frequently asked questions

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

The current guideline value of KARTHIKEYAN NAGAR - Menakshi 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 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1066%.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in KARTHIKEYAN NAGAR - Menakshi Street is 7% of the guideline value or the sale price, whichever is higher.

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

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

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

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