Guideline Value for Karthikeyapuram 13th Cross Street

Karthikeyapuram 13th Cross Street guideline value

The current guideline value of Karthikeyapuram 13th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Karthikeyapuram 13th Cross Street has changed

The guideline value for Karthikeyapuram 13th Cross Street has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Karthikeyapuram 13th Cross Street's 2024 figure above that median.

• Karthikeyapuram 12th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 13th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 13th Street/Natrajan Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 12th Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 13th 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Karthikeyapuram 13th Cross Street?

Karthikeyapuram 13th Cross Street falls under the jurisdiction of 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 process 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 registration fees and stamp duties are appropriately calculated.

When buying or selling property, the guideline value is used to assess the sale price, and the higher of the two is taken into account for calculating applicable duties. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 13th Cross Street?

The current guideline value of Karthikeyapuram 13th 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, marking a total increase of 64% over this period.

What is the land classification for Karthikeyapuram 13th Cross Street?

Karthikeyapuram 13th Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, with a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Karthikeyapuram 13th Cross Street?

The Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, handles registrations for Karthikeyapuram 13th Cross Street.