Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, a reduction of 33%. The guideline value then increased to Rs 1,000 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 400%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which is equal to the 2024 figure for Karthik Nagar.

• Karthik Nagar Extn: Rs 1,000 per sq.ft (2024)
• Karumuthu Thiyagaraja Nagar: Rs 1,000 per sq.ft (2024)
• Kannan Nagar: Rs 1,000 per sq.ft (2024)
• Kavignar Kannadasan Nagar: Rs 1,000 per sq.ft (2024)
• Kanchi Kamachi Nagar: Rs 1,000 per sq.ft (2024)
• K.M.A. Avenue: Rs 1,000 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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that 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 details.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar falls under the jurisdiction of 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 Adhanoor

The guideline value is an essential factor in property transactions in Adhanoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and increased back to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification of Karthik Nagar?

Karthik Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty rates for property in Karthik Nagar?

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

Which office handles registrations for Karthik Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Karthik Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.