Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Karthik Nagar has changed

Over the years, the guideline value of Karthik Nagar has experienced several revisions. The earliest recorded figure is from 2007, where the value was Rs 140 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a remarkable rise of 471%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The subsequent revisions saw the value rise again to Rs 800 per sq.ft in both 2023 and 2024, showing no change from 2023 to 2024.

The guideline value register has no figures for the years 2002 and 2003 for this street. From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, the value has risen by 471%.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median value is Rs 800 per sq.ft, which is equal to the current guideline value of Karthik Nagar.

• Karthick Avenue: Rs 800 per sq.ft (2024)
• Kamatchi Nagar: Rs 500 per sq.ft (2024)
• Jayam Nagar: Rs 700 per sq.ft (2024)
• Indhira Gandhi Nagar: Rs 600 per sq.ft (2024)
• Guru Ramesh Nagar: Rs 700 per sq.ft (2024)
• Gunguni Amman Kovil Theru: Rs 600 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 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, resulting in a total of Rs 72,000. Please 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 details.

Which Sub Registrar Office covers Karthik Nagar?

The Sub Registrar Office that covers Karthik Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kavanur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the legal and financial obligations of the buyer and seller. It is essential to be aware of the current guideline value to avoid any discrepancies 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 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 140 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, and it has remained at Rs 800 per sq.ft since 2023.

What is the land classification for Karthik Nagar?

The land classification for Karthik Nagar is Residential Special Type - III, which indicates its suitability for residential development.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 at a rate of 7%.

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

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