Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village and falls under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has seen several revisions over the years. In 2007, the value was Rs 55 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012, marking a 264% rise. However, it then decreased to Rs 134 per sq.ft in 2017, representing a decline of 33%. The value further increased to Rs 200 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 210 per sq.ft, reflecting a 5% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 282%.

Guideline values in Nemili

Nemili village has a range of guideline values across its 66 streets under the Sriperumpudur SRO, with values varying from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, placing Karthik Nagar's 2024 figure below this median.

• Kamarajar Street: Rs 210 per sq.ft (2024)
• Kakkan Street: Rs 210 per sq.ft (2024)
• Kumaran Street: Rs 210 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Karthik Nagar

For a 1,000 sq.ft plot at the current rate of Rs 210 per sq.ft, the guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, totaling Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar?

The Sub Registrar Office that covers Karthik Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Nemili. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the government. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, showing an overall increase of 282% over the years.

What is the land classification of Karthik Nagar?

Karthik Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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

How is 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, a property valued at Rs 2,10,000 incurs a stamp duty of Rs 14,700 at 7%.