Guideline Value for KARTHIKEYAN NAGAR - Valli Street

KARTHIKEYAN NAGAR - Valli Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Valli 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 is classified as Residential Class II Type - I.

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

The guideline value for KARTHIKEYAN NAGAR - Valli Street has seen 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, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, a significant increase of 61%. In 2012, the guideline value reached Rs 3,000 per sq.ft, reflecting a 500% increase from the previous revision. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose sharply to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 saw the value rise again to Rs 3,300 per sq.ft, a 10% increase from the previous year. There are no figures available for revisions in years not listed for this street.

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 is Rs 3,050 per sq.ft, placing KARTHIKEYAN NAGAR - Valli Street above this median.

• KARTHIKEYAN NAGAR - Suriya Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Variyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Veerapagu Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil 1st Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Vetri Vinayagar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Valli Street

For a 1,000 sq.ft plot at the current rate, the 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, together totaling Rs 2,97,000. 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 details.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Valli Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Valli 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 an important factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory costs associated with property sales.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the official rates set by the government. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value for KARTHIKEYAN NAGAR - Valli 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 the years.

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

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

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

KARTHIKEYAN NAGAR - Valli Street is classified as Residential Class II Type - I, indicating its designation for residential use.