Guideline Value for Karthikeyan Salai

Karthikeyan Salai guideline value

The current guideline value of Karthikeyan Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Commercial Class I Type - I.

How the guideline value of Karthikeyan Salai has changed

The guideline value for Karthikeyan Salai has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,400 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023 and has now been revised to Rs 5,500 per sq.ft in 2024. The register has no figure for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 257%. However, from 2012 to 2017, it saw a decrease of 33%. The value then increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 10%. Overall, the guideline value has increased by 293% from 2007 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Karthikeyan Salai's 2024 figure above that median.

• Karthick Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Kanniappan Street (Vetri Nagar): Rs 3,300 per sq.ft (2024)
• Kannappar Street: Rs 2,700 per sq.ft (2024)
• Kannaker Street: Rs 2,700 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,700 per sq.ft (2024)
• Kandasamy Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthikeyan Salai?

Karthikeyan Salai falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, providing a standard reference point. This value is essential in calculating the necessary fees and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karthikeyan Salai?

The current guideline value of Karthikeyan Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,400 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 293% over the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur for the 2024 revision is Rs 3,301 per sq.ft, which is below the current value of Karthikeyan Salai.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.