Guideline Value for Karthick Street (Vetri Nagar Extension)

Karthick Street (Vetri Nagar Extension) guideline value

The current guideline value of Karthick Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Karthick Street (Vetri Nagar Extension) has changed

The guideline value for Karthick Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,301 per sq.ft, which represents a 10% increase from the previous year.

It is important to note that the register has no figures for Karthick Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Karthick Street (Vetri Nagar Extension).

• Karthikeyan Salai: Rs 5,500 per sq.ft (2024)
• Kanniappan Street (Vetri Nagar): Rs 3,300 per sq.ft (2024)
• Kannappar Street: Rs 2,700 per sq.ft (2024)
• Kannaker Street: Rs 2,700 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,700 per sq.ft (2024)
• Kandasamy Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karthick Street (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total cost for these fees Rs 2,97,090. 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 detailed calculations.

Which Sub Registrar Office covers Karthick Street (Vetri Nagar Extension)?

The Sub Registrar Office that covers Karthick Street (Vetri Nagar Extension) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought. When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Karthick Street (Vetri Nagar Extension)?

The current guideline value of Karthick Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Karthick Street?

Karthick Street (Vetri Nagar Extension) is classified as Residential Special Type - II.

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

The Sembiam Sub Registrar Office covers Karthick Street and is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated for properties in Karthick Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,97,090.