Guideline Value for Karthikeyapuram 12th Street

Karthikeyapuram 12th Street guideline value

The current guideline value for Karthikeyapuram 12th 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 is classified as Residential Class I Type - I.

How the guideline value of Karthikeyapuram 12th Street has changed

The guideline value for Karthikeyapuram 12th Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase of 10%, bringing the value to Rs 3,850 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Karthikeyapuram 12th Street is above this median.

• Karthikeyapuram 11th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 11th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 11th Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)

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

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

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

Which Sub Registrar Office covers Karthikeyapuram 12th Street?

Karthikeyapuram 12th 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 in the registration process of property transactions in Madipakkam-1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential components of the transaction.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Ensuring that the transaction reflects the guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Karthikeyapuram 12th Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate of Rs 3,850 per sq.ft in 2024. The most recent increase was 10% from the 2023 revision.

What is the land classification for Karthikeyapuram 12th Street?

Karthikeyapuram 12th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Karthikeyapuram 12th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.