Guideline Value for KARTHIKEYAN NAGAR - Suriya Street

KARTHIKEYAN NAGAR - Suriya Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Suriya 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 falls under the Residential Class II Type - I land classification.

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

The guideline value for KARTHIKEYAN NAGAR - Suriya Street has seen significant changes over the years. In 2002, the guideline value was Rs 283 per sq.ft, which increased to Rs 310 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 61% increase. The value then jumped dramatically to Rs 3,000 per sq.ft in 2012, showing a 500% rise from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,066%. The register has no figures for the years not mentioned in the revisions, ensuring that all changes are accounted for accurately.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging 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, placing KARTHIKEYAN NAGAR - Suriya Street above this median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Suriya 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Suriya Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Suriya 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 buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

When a property is sold, the buyer and seller must agree on a sale price that is either at or above the guideline value. This ensures that the transaction reflects the legal requirements set forth by the registration authorities, providing transparency in property dealings.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Suriya 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 increased from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 1,066% over this period.

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

KARTHIKEYAN NAGAR - Suriya Street is classified as Residential Class II Type - I.

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

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.