Guideline Value for Karthikeyan Nagar

Karthikeyan Nagar guideline value

The current guideline value of Karthikeyan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Karthikeyan Nagar has changed

Over the years, the guideline value for Karthikeyan Nagar has seen significant changes. The 2007 revision recorded a value of Rs 250 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, this value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The subsequent revisions saw an increase to Rs 1,500 per sq.ft in 2023, followed by a further rise to the current value of Rs 1,650 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that the register has no figures for Karthikeyan Nagar for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Karthikeyan Nagar is below this median.

• Karumariyamman Koil Street: Rs 1,650 per sq.ft (2024)
• Karumariyamman Nagar: Rs 2,310 per sq.ft (2024)
• Kasthuri Nagar: Rs 3,960 per sq.ft (2024)
• Kasthuri Street Extension: Rs 1,980 per sq.ft (2024)
• Kasturi Bai Street: Rs 1,980 per sq.ft (2024)
• Kattabomman Theru: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please 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 Karthikeyan Nagar?

Karthikeyan Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value influences the transaction price and is often used to assess the fair value of the property. Buyers and sellers should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Karthikeyan Nagar?

The current guideline value of Karthikeyan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 560%.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Karthikeyan Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Karthikeyan Nagar is the Padappai SRO, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

What are the guideline values of other streets in Perungalathur?

Other streets in Perungalathur have varying guideline values, with rates ranging from Rs 1,650 to Rs 3,960 per sq.ft as of 2024, with Karthikeyan Nagar being below the median of Rs 2,310 per sq.ft.