Guideline Value for Karthik Avenue

Karthik Avenue guideline value

The current guideline value of Karthik Avenue in Baraniputjur village, under the Kunrathur SRO, is Rs 1,450 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Karthik Avenue has changed

The guideline value for Karthik Avenue has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 872 per sq.ft in 2017. The value saw a substantial increase to Rs 1,302 per sq.ft in 2023, and currently stands at Rs 1,450 per sq.ft as of the 2024 revision, reflecting an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 480%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft, with a median value of Rs 1,210 per sq.ft. Karthik Avenue's current guideline value is above this median.

• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)
• Jothi Nagar: Rs 1,210 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Janaki Raman Nagar: Rs 1,210 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,210 per sq.ft (2024)
• Iyyappanthangal Main Road: Rs 1,450 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,450 per sq.ft, the total guideline value amounts to Rs 14,50,000. The stamp duty at 7% would be Rs 1,01,500, and the registration fee at 2% would be Rs 29,000, bringing the total fees to Rs 1,30,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthik Avenue?

Karthik Avenue is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Baraniputjur. It serves as the base value for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Karthik Avenue?

The current guideline value of Karthik Avenue is Rs 1,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 250 per sq.ft in 2007 to Rs 1,450 per sq.ft in 2024, marking an overall increase of 480% over the years.

What are the stamp duty and registration fees for Karthik Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 14,50,000, resulting in a stamp duty of Rs 1,01,500 and a registration fee of Rs 29,000, totaling Rs 1,30,500.

Which office handles registrations for Karthik Avenue?

The Kunrathur Sub Registrar Office handles registrations for Karthik Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Karthik Avenue?

The land classification for Karthik Avenue is Residential Special Type - I, indicating its designated use for residential purposes.