Guideline Value for Karthick Avenue Extn

Karthick Avenue Extn guideline value

The current guideline value for Karthick Avenue Extn is Rs 2,200 per sq.ft. This property is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Karthick Avenue Extn has changed

Over the years, the guideline value of Karthick Avenue Extn has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, reflecting a -33% change. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft, marking a +10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of +49%. Overall, from 2012 to 2024, the guideline value has increased by +10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Karthick Avenue Extn's 2024 figure above this median.

• Karthick Avenue: Rs 2,200 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Kasthuri Nagar: Rs 1,320 per sq.ft (2024)
• Kattabomman 1st Cross st: Rs 880 per sq.ft (2024)
• Kattabomman 2nd Cross st: Rs 880 per sq.ft (2024)
• Kattabomman 3rd Cross st: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Karthick Avenue Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthick Avenue Extn?

The Sub Registrar Office that covers Karthick Avenue Extn is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peerklankaranai

The guideline value is a crucial factor in property transactions in Peerklankaranai. It serves as a reference point for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Karthick Avenue Extn?

The current guideline value of Karthick Avenue Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Karthick Avenue Extn?

Karthick Avenue Extn is classified as Residential Special Type - I, indicating its suitability for residential development.

What is the registration office for Karthick Avenue Extn?

The registration office for Karthick Avenue Extn is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Karthick Avenue Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.