Guideline Value for Karthik Nagar

Karthik Nagar guideline value

The current guideline value of Karthik Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Karthik Nagar has changed

The guideline value for Karthik Nagar has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value remained stable at Rs 600 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 marked a substantial increase of 300%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which means Karthik Nagar's 2024 figure of Rs 600 per sq.ft is above this median.

• Karumariamman Nagar: Rs 200 per sq.ft (2024)
• Karuneergar Street: Rs 200 per sq.ft (2024)
• Kammalar Street: Rs 200 per sq.ft (2024)
• Kambar Street: Rs 200 per sq.ft (2024)
• Kamachi Colony: Rs 300 per sq.ft (2024)
• Kamachi Avenue Phase - II: Rs 300 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthik Nagar?

The Karthik Nagar area 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Valarpuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in maintaining a standard process for property transactions, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Karthik Nagar?

The current guideline value of Karthik Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 600 per sq.ft in both 2023 and 2024, up from Rs 402 per sq.ft in 2017.

What is the land classification of Karthik Nagar?

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

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is 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 higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 42,000.