Guideline Value for Karthik Nagar

Karthik Nagar guideline value

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

How the guideline value of Karthik Nagar has changed

In the 2007 revision, the guideline value was Rs 328 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a remarkable rise of 205%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,000 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision, indicating a 49% increase from 2017 to 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 205%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,500 per sq.ft, placing Karthik Nagar's 2024 figure below this median.

• Karpagambal Nagar Extn: Rs 1,500 per sq.ft (2024)
• Karpagambal Nagar: Rs 1,500 per sq.ft (2024)
• Karunanidhi Nagar: Rs 1,500 per sq.ft (2024)
• K.K. Avenue: Rs 1,500 per sq.ft (2024)
• Kameshwari Nagar: Rs 1,500 per sq.ft (2024)
• Kamarajapuram: Rs 1,500 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, while the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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, Nandhivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Nandhivaram, 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 local regulations.

During the registration process, 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 seen various changes, from Rs 328 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, with Karthik Nagar's 2024 figure being below this median.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri - 603202, Chengalpattu registration zone.