Guideline Value for Karthik Avenue Annex

Karthik Avenue Annex guideline value

The current guideline value of Karthik Avenue Annex is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Karthik Avenue Annex has changed

The guideline value for Karthik Avenue Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, the value saw a significant increase in the subsequent revisions, with the 2023 revision raising it to Rs 1,500 per sq.ft, followed by the latest 2024 revision, which brought it to Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase, aligning the current value with the median for the village.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Karthik Avenue Annex.

• Karthik Avenue: Rs 1,650 per sq.ft (2024)
• Karunanithi St: Rs 1,650 per sq.ft (2024)
• Kasthuribai Street: Rs 1,650 per sq.ft (2024)
• Kannammal Street: Rs 2,750 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Kannammal 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Avenue Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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, bringing the total to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Avenue Annex?

The Karthik Avenue Annex 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in the transaction process.

When buying or selling a property, the guideline value is 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, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Karthik Avenue Annex?

The current guideline value of Karthik Avenue Annex is Rs 1,650 per sq.ft, 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 1,650 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Karthik Avenue Annex?

Karthik Avenue Annex is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Karthik Avenue Annex?

The Sub Registrar Office covering Karthik Avenue Annex 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 Karthik Avenue Annex?

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