Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar, located in Mannoor village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Karthik Nagar has changed

Over the years, the guideline value for Karthik Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased to Rs 250 per sq.ft in the 2012 revision. However, this figure remained unchanged until the 2017 revision, which raised it to Rs 167 per sq.ft, marking a 50% increase from the previous value. The guideline value then returned to Rs 250 per sq.ft in the 2023 revision, and this value has remained the same in the 2024 revision, indicating no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 67%.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current guideline value of Karthik Nagar.

• Kamatchi Nagar: Rs 250 per sq.ft (2024)
• Kulakkarai Street: Rs 200 per sq.ft (2024)
• Lakshmi Nagar: Rs 250 per sq.ft (2024)
• Jeyalaxmi Nagar: Rs 300 per sq.ft (2024)
• Jasmine Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Main Road: 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total cost to Rs 22,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar?

Karthik Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 250 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 recent revisions showing no change from 2023 to 2024. The value increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Karthik Nagar?

Karthik Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office covering Karthik Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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 instance, on a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.