Guideline Value for Karthikeyapuram 12th Street 1st Cross Street

Karthikeyapuram 12th Street 1st Cross Street guideline value

The current guideline value for Karthikeyapuram 12th Street 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Karthikeyapuram 12th Street 1st Cross Street has changed

The guideline value for Karthikeyapuram 12th Street 1st Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. Following this, the 2023 revision increased it to Rs 3,500 per sq.ft, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The current guideline value is a result of these cumulative changes over the years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Karthikeyapuram 12th Street 1st Cross Street above this median.

• Karthikeyapuram 12th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 11th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 11th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 13th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 12th Street 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value is Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karthikeyapuram 12th Street 1st Cross Street?

The Karthikeyapuram 12th Street 1st Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 12th Street 1st Cross Street?

The current guideline value of Karthikeyapuram 12th Street 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the registration office for Karthikeyapuram 12th Street 1st Cross Street?

The registration office for Karthikeyapuram 12th Street 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.

What are the other streets in Madipakkam-1 with the same guideline value?

Several other streets in Madipakkam-1 have the same guideline value of Rs 3,850 per sq.ft, including Karthikeyapuram 12th Street 2nd Cross Street, Karthikeyapuram 11th Street 3rd Cross Street, and others.