Guideline Value for Karthik Avenue

Karthik Avenue guideline value

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

How the guideline value of Karthik Avenue has changed

Starting from the 2012 revision, the guideline value for Karthik Avenue was Rs 1,500 per sq.ft. In the following 2017 revision, it decreased to Rs 1,005 per sq.ft, marking a significant drop of 33%. The value then increased to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, Karthik Avenue's guideline value has seen a 10% increase, reaching the current rate of Rs 1,650 per sq.ft.

Guideline values in Chitlapakkam

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

• Karthik Avenue Annex: 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)
• Kannammal 2nd Street: Rs 1,650 per sq.ft (2024)
• Kaveri Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthik Avenue?

Karthik 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 information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees during the sale or purchase of property.

When buyers or sellers engage in a transaction, the guideline value ensures that the property is not undervalued, protecting both parties. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Karthik Avenue?

The current guideline value of Karthik Avenue 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 significant fluctuations in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the land classification of Karthik Avenue?

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

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

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

How is stamp duty calculated for properties in Karthik Avenue?

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