Guideline Value for KARTHIKEYAN NAGAR - Puthukoil 1st Street

KARTHIKEYAN NAGAR - Puthukoil 1st Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Puthukoil 1st 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 - Puthukoil 1st Street has changed

The guideline value for KARTHIKEYAN NAGAR - Puthukoil 1st Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. This increased to Rs 310 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, but this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023 and finally reached Rs 3,300 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023. However, the value decreased by 33% from 2012 to 2017. The 2007 to 2012 period saw a remarkable increase of 500%, while the 2003 to 2007 period experienced a rise of 61%. From 2002 to 2003, the increase was 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 with 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 KARTHIKEYAN NAGAR - Puthukoil 1st Street above this median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Puthukoil 1st 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 cost for these 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 - Puthukoil 1st Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Puthukoil 1st 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 minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR - Puthukoil 1st Street?

The current guideline value of KARTHIKEYAN NAGAR - Puthukoil 1st 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% over this period.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 3,300 per sq.ft include KARTHIKEYAN NAGAR - Mulayam Singh Yadav Street, KARTHIKEYAN NAGAR - Puthukoil Street, KARTHIKEYAN NAGAR - Menakshi Street, KARTHIKEYAN NAGAR - Suriya Street, KARTHIKEYAN NAGAR - Manikkavasagar Street, and KARTHIKEYAN NAGAR - Valli Street.

Where can I find the Sub Registrar Office for KARTHIKEYAN NAGAR - Puthukoil 1st Street?

The Sub Registrar Office for KARTHIKEYAN NAGAR - Puthukoil 1st Street is the Virugambakkam Sub Registrar Office, 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 of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would amount to Rs 2,31,000.