Guideline Value for KARTHIKEYAPURAM 13TH STREET/NATRAJAN STREET

Karthikeyapuram 13th Street/Natrajan Street guideline value

The current guideline value for Karthikeyapuram 13th Street/Natrajan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karthikeyapuram 13th Street/Natrajan Street has changed

The guideline value for Karthikeyapuram 13th Street/Natrajan Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. This represents a 49% increase from 2017 to 2023. Following this, the 2024 revision set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Karthikeyapuram 13th Street/Natrajan Street above this median with its 2024 figure of Rs 3,850 per sq.ft.

• Karthikeyapuram 13th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 13th Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Street/Erikarai Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 13th Street/Natrajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthikeyapuram 13th Street/Natrajan Street?

The Karthikeyapuram 13th Street/Natrajan Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the applicable duties and fees, ensuring that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value for Karthikeyapuram 13th Street/Natrajan Street?

The current guideline value for Karthikeyapuram 13th Street/Natrajan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Karthikeyapuram 13th Street/Natrajan Street's value is above this median.

What are the fees associated with buying property in Karthikeyapuram 13th Street/Natrajan Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,46,500.

Which office handles the registration for Karthikeyapuram 13th Street/Natrajan Street?

The Velacheri Sub Registrar Office handles the registration for Karthikeyapuram 13th Street/Natrajan Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.