Guideline Value for Karthick Avenue

Karthick Avenue guideline value

The current guideline value of Karthick Avenue is Rs 2,200 per sq.ft. This street 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 has changed

The guideline value for Karthick Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Karthick Avenue's 2024 guideline value is above this median.

• Karthick Avenue Extn: 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)
• Kannan Street: Rs 1,650 per sq.ft (2024)
• Kattabomman 1st Cross st: Rs 880 per sq.ft (2024)
• Kattabomman 2nd Cross st: Rs 880 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Karthick Avenue?

Karthick Avenue falls under 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark for calculating these fees, ensuring that they are based on the official valuation rather than the sale price alone. This helps maintain transparency and consistency in property transactions.

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, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Karthick Avenue has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased 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 of Karthick Avenue?

Karthick Avenue is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for a property 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.

Where can I find the Sub Registrar Office for Karthick Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Karthick Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.