Guideline Value for KARTHIKEYAN NAGAR 3rd Cross Street

KARTHIKEYAN NAGAR 3rd Cross Street guideline value

The current guideline value of KARTHIKEYAN NAGAR 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of KARTHIKEYAN NAGAR 3rd Cross Street has changed

The guideline value for KARTHIKEYAN NAGAR 3rd Cross 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 jumped significantly to Rs 500 per sq.ft, reflecting a 61% increase. In 2012, the value remained at Rs 3,000 per sq.ft, but then dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33% from the previous figure. The value rose again to Rs 3,000 per sq.ft in 2023, and as of 2024, it stands at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1066%. There are no figures available for the years between these revisions for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values 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 3rd Cross Street above this median.

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

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR 3rd 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 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 to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR 3rd Cross Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR 3rd 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 information.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can impact the overall transaction costs. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can affect the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of KARTHIKEYAN NAGAR 3rd Cross Street?

The current guideline value of KARTHIKEYAN NAGAR 3rd 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 significantly from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1066% over the years.

What is the land classification for KARTHIKEYAN NAGAR 3rd Cross Street?

KARTHIKEYAN NAGAR 3rd Cross Street is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for KARTHIKEYAN NAGAR 3rd Cross Street?

The Virugambakkam Sub Registrar Office is responsible for KARTHIKEYAN NAGAR 3rd Cross Street, 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 actual sale price. For instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at a rate of 7%.