Guideline Value for KARTHIKEYAN NAGAR 1st Cross Street

KARTHIKEYAN NAGAR 1st Cross Street guideline value

The current guideline value of KARTHIKEYAN NAGAR 1st Cross 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 1st Cross Street has changed

The guideline value for KARTHIKEYAN NAGAR 1st Cross Street has seen several revisions over the years. Starting from Rs 283 per sq.ft in 2002, it increased to Rs 310 per sq.ft in 2003, marking a 10% rise. The value further increased significantly to Rs 500 per sq.ft in 2007, which was a 61% increase. In 2012, the guideline value was revised to Rs 3,000 per sq.ft, reflecting a substantial 500% increase from the previous figure.

From 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. However, from 2017 to 2023, the value surged to Rs 3,000 per sq.ft, which is a 49% increase. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

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 value for these streets is Rs 3,050 per sq.ft, placing KARTHIKEYAN NAGAR 1st Cross Street above this median.

• KARTHIKEYAN NAGAR 1st Main Road: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 2nd Main Road: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR 3rd Main Road: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Agathiyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR 1st Cross 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, totaling 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 1st Cross Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR 1st Cross 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 property registration 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. The guideline value is set by the government and is regularly revised to reflect changes in the market.

When a buyer or seller approaches the registration office, the guideline value is checked, and the applicable fees are calculated based on this value. It ensures that the registration process is transparent and standardized across different properties in the region.

Frequently asked questions

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

The current guideline value of KARTHIKEYAN NAGAR 1st Cross 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 from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking a total increase of 1066% over the years.

What is the land classification for KARTHIKEYAN NAGAR 1st Cross Street?

The land classification for KARTHIKEYAN NAGAR 1st Cross Street is Residential Class II Type - I.

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.

Where is the Sub Registrar Office located for KARTHIKEYAN NAGAR 1st Cross Street?

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