Guideline Value for Karthik Nagar Extn-V

Karthik Nagar Extn-V guideline value

The current guideline value of Karthik Nagar Extn-V is Rs 1,200 per sq.ft. This property is located in Madambakkam village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

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

The guideline value for Karthik Nagar Extn-V has undergone several revisions over the years. The 2007 revision recorded a value of Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 804 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 390%.

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. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value of Karthik Nagar Extn-V.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total 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, leading to a total cost of 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar Extn-V?

The Karthik Nagar Extn-V falls under 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 is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the authorities will assess the guideline value to calculate the necessary fees. This ensures that the transaction is documented accurately and in compliance with the local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has seen fluctuations, starting at Rs 245 per sq.ft in 2007, increasing to Rs 1,200 per sq.ft in 2012, then dropping to Rs 804 per sq.ft in 2017, and finally stabilizing at Rs 1,200 per sq.ft in 2023 and 2024.

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

The land classification for Karthik Nagar Extn-V is Commercial Special Type - I, indicating its suitability for commercial activities.

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

The registration office for Karthik Nagar Extn-V is the Gooduvancheri Sub Registrar Office, 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-V?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at a rate of 7%.