Guideline Value for Karthikeyapuram 13th Street

Karthikeyapuram 13th Street guideline value

The current guideline value of Karthikeyapuram 13th 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 13th Street has changed

The guideline value for Karthikeyapuram 13th Street has seen significant changes over the years. The 2017 revision recorded a value of 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 set the 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 in the register 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 value for these streets is Rs 2,750 per sq.ft, placing Karthikeyapuram 13th Street above that median with its current value of Rs 3,850 per sq.ft.

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

Stamp duty and registration fee for property in Karthikeyapuram 13th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karthikeyapuram 13th Street?

The Karthikeyapuram 13th Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an important factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for transferring ownership. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

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

The current guideline value of Karthikeyapuram 13th 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, which is a total increase of 64% over the seven years.

What is the land classification of Karthikeyapuram 13th Street?

Karthikeyapuram 13th Street falls under the Residential Class I Type - I land classification.

What is the stamp duty rate for properties in Karthikeyapuram 13th Street?

The stamp duty rate for properties in Karthikeyapuram 13th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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