Guideline Value for KarthikBalaji Nagar

KarthikBalaji Nagar guideline value

The current guideline value of KarthikBalaji Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of KarthikBalaji Nagar has changed

Over the years, the guideline value of KarthikBalaji Nagar has seen significant changes. In 2007, the guideline value was Rs 450 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in 2012, marking a rise of 411%. However, this value decreased to Rs 1,541 per sq.ft in 2017, a reduction of 33%. From 2017 to 2023, the value increased by 49% to reach Rs 2,300 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,530 per sq.ft, a 10% increase.

The guideline value register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 462%.

Guideline values in Mogalivakkam

Mogalivakkam has 98 streets under the Kunrathur SRO, with guideline values in 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing KarthikBalaji Nagar's 2024 figure below this median.

• Kanniappan Nagar: Rs 2,860 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,860 per sq.ft (2024)
• K.R.B.Avenue: Rs 2,530 per sq.ft (2024)
• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• Krishnaveni Nagar Extension: Rs 2,970 per sq.ft (2024)
• Kumudham Nagar Annexe: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in KarthikBalaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total fees together Rs 2,27,700. Please 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 further calculations.

Which Sub Registrar Office covers KarthikBalaji Nagar?

KarthikBalaji Nagar falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mogalivakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and helps avoid disputes regarding property values during transactions.

Frequently asked questions

What is the current guideline value of KarthikBalaji Nagar?

The current guideline value of KarthikBalaji Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, which is an overall increase of 462%.

What are the stamp duty and registration fees for a property in KarthikBalaji Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for KarthikBalaji Nagar?

The Kunrathur Sub Registrar Office handles registrations for KarthikBalaji Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Mogalivakkam?

The median guideline value for streets in Mogalivakkam is Rs 2,970 per sq.ft, with KarthikBalaji Nagar's value being below this median.