Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Karthik Nagar has changed

Over the years, the guideline value of Karthik Nagar has seen several revisions. The earliest available figure is from 2007, where the guideline value was Rs 225 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 433%. However, it then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value remained unchanged at Rs 1,200 per sq.ft in the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023.

The register has no figure for Karthik Nagar in the years 2002 and 2003. The overall change from the 2007 revision to the 2024 revision is an increase of 433%, highlighting the fluctuations in the guideline value over the years.

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 a median value of Rs 1,200 per sq.ft. Karthik Nagar's 2024 figure aligns with this median.

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

Stamp duty and registration fee for property in Karthik Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be 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, bringing the total cost to 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 information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar 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 further assistance.

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

The guideline value is a critical factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as recognized by the government. This process is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar 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 seen several revisions, with the most significant increase occurring from Rs 225 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012. The value remained unchanged at Rs 1,200 per sq.ft in both 2023 and 2024.

Where can I find the registration office for Karthik Nagar?

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

What are the stamp duty and registration fees for Karthik Nagar?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification in Karthik Nagar?

The land classification for Karthik Nagar is Commercial Special Type - I, which influences the guideline value and property usage in the area.