Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Sekkadu village under the Avadi SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the current guideline value of Karthik Nagar.

• Kariyappa Nagar: Rs 1,075 per sq.ft (2024)
• Kinathangarai Street: Rs 1,075 per sq.ft (2024)
• Kamarajar Street: Rs 1,075 per sq.ft (2024)
• Kulakkarai Street: Rs 1,075 per sq.ft (2024)
• Kumaran Nagar: Rs 1,075 per sq.ft (2024)
• Iyyappa Nagar Extension: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar falls under the jurisdiction of the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Sekkadu. It serves as a benchmark for determining the minimum value of the property, ensuring that the registration fees and stamp duties are calculated appropriately based on this value.

When buying or selling property, the guideline value helps in establishing a transparent pricing mechanism. It is essential for both buyers and sellers 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 Nagar?

The current guideline value of Karthik Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Karthik Nagar?

Karthik Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

The Avadi Sub Registrar Office covers Karthik Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Karthik Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 92,400.