Guideline Value for KARTHIKEYAN NAGAR - Puthukoil Street

KARTHIKEYAN NAGAR - Puthukoil Street guideline value

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

The guideline value for KARTHIKEYAN NAGAR - Puthukoil Street has undergone several revisions over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 310 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then it saw a substantial increase to Rs 3,000 per sq.ft in 2012. However, the value dropped to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

Between these revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a remarkable 500% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects a significant increase of 1,066%.

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, with a median value of Rs 3,050 per sq.ft. The guideline value for KARTHIKEYAN NAGAR - Puthukoil Street is above this median.

• KARTHIKEYAN NAGAR - Puthukoil 1st Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Suriya Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Mulayam Singh Yadav Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Valli Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Menakshi Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Variyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Puthukoil 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, resulting in a total of 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 - Puthukoil Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Puthukoil 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 during the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of KARTHIKEYAN NAGAR - Puthukoil 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 a total increase of 1,066% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with KARTHIKEYAN NAGAR - Puthukoil Street's 2024 value being above this median.

What are the stamp duty and registration fees for properties 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 office handles registrations for KARTHIKEYAN NAGAR - Puthukoil Street?

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