Guideline Value for Karthiga Nagar

Karthiga Nagar guideline value

The current guideline value of Karthiga Nagar, located in Varadarajapuram village, is Rs 1,650 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Special Type - II.

How the guideline value of Karthiga Nagar has changed

The guideline value for Karthiga Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then rose again to Rs 1,650 per sq.ft in the 2024 revision. The register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Karthiga Nagar.

• Kannadasan Nagar: Rs 990 per sq.ft (2024)
• Kanagavalli Nagar: Rs 990 per sq.ft (2024)
• Kensis Shakthi Nagar: Rs 1,650 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,650 per sq.ft (2024)
• Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Karthiga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthiga Nagar?

Karthiga Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a significant role in property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is considered to ensure that the transaction reflects the correct value for taxation purposes. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karthiga Nagar?

The current guideline value of Karthiga Nagar is Rs 1,650 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Karthiga Nagar?

Karthiga Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for Karthiga Nagar?

The registration office for Karthiga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Karthiga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.