Guideline Value for Karthick Avenue

Karthick Avenue guideline value

The current guideline value of Karthick Avenue, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Karthick Avenue has changed

The guideline value for Karthick Avenue has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen 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 Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a guideline value range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing Karthick Avenue's 2024 figure above this median.

• Karthick Nagar: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar , Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Karpagam Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar: Rs 2,200 per sq.ft (2024)
• Karthik Nagar (Ward-29): Rs 2,200 per sq.ft (2024)
• Karthik Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karthick Avenue

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, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthick Avenue?

The Sub Registrar Office that covers Karthick Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karthick Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over the years.

What are the stamp duty and registration fees for properties in Karthick Avenue?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Karthick Avenue?

Karthick Avenue is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Karthick Avenue?

Karthick Avenue falls under the Residential Class I Type - I land classification, which indicates its suitability for residential development.