Guideline Value for Karthik Nagar Extn-III

Karthik Nagar Extn-III guideline value

The current guideline value of Karthik Nagar Extn-III is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Karthik Nagar Extn-III has changed

The guideline value for Karthik Nagar Extn-III has undergone several revisions over the years. The 2007 revision recorded a value of Rs 179 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 570%. However, the value then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. From 2017 to 2023, the value remained stable at Rs 1,200 per sq.ft, showing an increase of 49% from the 2017 figure. The current value from the 2024 revision is also Rs 1,200 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 570%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Karthik Nagar Extn-III's 2024 figure is equal to this median.

• Karthik Nagar Extn-II: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-I: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-IV: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-V: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-VI: Rs 1,200 per sq.ft (2024)
• Karthik Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar Extn-III

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that 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 Nagar Extn-III?

Karthik Nagar Extn-III is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must adhere to the guideline value to calculate the applicable fees. If the sale price is higher than the guideline value, the fees will be based on the sale price instead, ensuring that the transaction reflects the true market conditions.

Frequently asked questions

What is the current guideline value of Karthik Nagar Extn-III?

The current guideline value of Karthik Nagar Extn-III is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 179 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft from 2023 to 2024.

Where can I find the registration office for Karthik Nagar Extn-III?

The registration office for Karthik Nagar Extn-III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the stamp duty rate for properties in Karthik Nagar Extn-III?

The stamp duty rate for properties in Karthik Nagar Extn-III is 7% of the guideline value or sale price, whichever is higher.

How is the guideline value determined in Madambakkam?

The guideline value in Madambakkam is determined based on various factors, including land classification and the historical revisions of property values in the area.