Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision saw a decrease to Rs 335 per sq.ft, marking a drop of 33% from the previous value. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft.

As of the latest 2024 revision, the guideline value remains at Rs 500 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. Karthik Nagar's 2024 figure aligns with this median.

• Karthik Nagar EXTN I,II: Rs 500 per sq.ft (2024)
• Kowshik Nagar: Rs 400 per sq.ft (2024)
• Kallazhagar City: Rs 600 per sq.ft (2024)
• Kumarasaamy Garden: Rs 896 per sq.ft (2024)
• Kumarasami Garden Phase - II: Rs 896 per sq.ft (2024)
• Jemi J.P Green Garden: Rs 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to 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 covering Karthik Nagar is 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 Orathur

The guideline value is a crucial factor when registering property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the buying or selling process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, protecting both the buyer and the seller. It is essential to be aware of the current guideline value when engaging in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 500 per sq.ft in 2024 and 2023. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the land classification for Karthik Nagar?

Karthik Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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, within the Chengalpattu registration zone.

How is the stamp duty calculated in Karthik Nagar?

Stamp duty in Karthik Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft would incur a total stamp duty of Rs 35,000.