Guideline Value for Karthik Nagar EXTN I,II

Karthik Nagar EXTN I,II guideline value

The current guideline value for Karthik Nagar EXTN I,II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Karthik Nagar EXTN I,II has changed

The guideline value for Karthik Nagar EXTN I,II has seen several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision also maintains this value, showing no change from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, the guideline value from 2012 to 2024 has remained stable, with a total change of 0% during this period.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which is equal to the current guideline value for Karthik Nagar EXTN I,II.

• Karthik Nagar: Rs 500 per sq.ft (2024)
• Kowshik Nagar: Rs 400 per sq.ft (2024)
• Kallazhagar City: Rs 600 per sq.ft (2024)
• Kumarasaamy Garden: Rs 896 per sq.ft (2024)
• Kumarasami Garden Phase - II: Rs 896 per sq.ft (2024)
• Jemi J.P Green Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar EXTN I,II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, while the registration fee at 2% would be Rs 10,000. Together, the total fees would amount to Rs 45,000. 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 precise calculations.

Which Sub Registrar Office covers Karthik Nagar EXTN I,II?

The Karthik Nagar EXTN I,II is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Orathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than negotiated sale prices.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Accurate knowledge of the guideline value can help in better planning and budgeting for property transactions.

Frequently asked questions

What is the current guideline value for Karthik Nagar EXTN I,II?

The current guideline value for Karthik Nagar EXTN I,II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Karthik Nagar EXTN I,II?

The land classification for Karthik Nagar EXTN I,II is Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Karthik Nagar EXTN I,II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000, resulting in a stamp duty of Rs 35,000.