Guideline Value for Karthikeyan Nagar - Chockanathan Street

Karthikeyan Nagar - Chockanathan Street guideline value

The current guideline value of Karthikeyan Nagar - Chockanathan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Karthikeyan Nagar - Chockanathan Street has changed

In the 2007 revision, the guideline value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, before rising again to Rs 3,000 per sq.ft in 2023. The latest 2024 revision has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. The revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, making Karthikeyan Nagar - Chockanathan Street's 2024 figure above that median.

• KARTHIKEYAN NAGAR - Chandriar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Deivanai Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - ASA Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Devi Karumari Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Arunagiri Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Iyappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyan Nagar - Chockanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karthikeyan Nagar - Chockanathan Street?

The Sub Registrar Office covering Karthikeyan Nagar - Chockanathan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a key factor in determining the stamp duty and registration fees when buying or selling property in Maduravoyal. It serves as a reference point for the authorities to assess the value of the property being transacted.

When registering a property, the guideline value is used to calculate the applicable fees, which are mandatory for all transactions. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karthikeyan Nagar - Chockanathan Street?

The current guideline value of Karthikeyan Nagar - Chockanathan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total increase of 340% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Karthikeyan Nagar - Chockanathan Street's 2024 figure being above this median.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Karthikeyan Nagar - Chockanathan Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office, which covers Karthikeyan Nagar - Chockanathan Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.