Guideline Value for Karthik Nagar Extn-I

Karthik Nagar Extn-I guideline value

The current guideline value for Karthik Nagar Extn-I 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, classified as Commercial Special Type - I.

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

The guideline value for Karthik Nagar Extn-I has seen several revisions over the years. In 2007, the value was Rs 205 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017 before remaining stable at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for this street for the years 2002 and 2003.

From 2012 to 2017, there was a decrease of 33%, but the value rose by 49% from 2017 to 2023, and remained unchanged from 2023 to 2024. Overall, the guideline value has increased by 485% from 2007 to 2024.

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 the median being Rs 1,200 per sq.ft. Karthik Nagar Extn-I's 2024 figure aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total Rs 1,08,000. 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 detailed calculations.

Which Sub Registrar Office covers Karthik Nagar Extn-I?

Karthik Nagar Extn-I falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 is a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Karthik Nagar Extn-I?

The current guideline value for Karthik Nagar Extn-I 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 significantly, with an increase from Rs 205 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then a drop to Rs 804 per sq.ft in 2017, before stabilizing at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Karthik Nagar Extn-I?

Karthik Nagar Extn-I is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

What are the stamp duty and registration fees for property in Karthik Nagar Extn-I?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft plot valued at Rs 12,00,000, the total stamp duty and registration fees would be Rs 1,08,000.

Which Sub Registrar Office covers Karthik Nagar Extn-I?

The Gooduvancheri Sub Registrar Office covers Karthik Nagar Extn-I, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.