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Guideline Value

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Guideline Value for Karthikeyapuram 1st Street/Erikarai Street

₹3850/sq.ft.

The guideline value for Karthikeyapuram 1st Street/erikarai Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Karthikeyapuram 1st Street/erikarai Street

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Karthikeyapuram 1st Street/Erikarai Street guideline value

The current guideline value of Karthikeyapuram 1st Street/Erikarai 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 1st Street/Erikarai Street has changed

The guideline value register for Karthikeyapuram 1st Street/Erikarai Street shows no figures for the revisions in the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft. The most recent revision in 2024 increased this value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier revisions. The current guideline value of Rs 3,850 per sq.ft places it above the median value of Rs 2,750 per sq.ft for other streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The guideline value for Karthikeyapuram 1st Street/Erikarai Street is above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Karthikeyapuram 1st Street/Erikarai 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, making the total fees together Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthikeyapuram 1st Street/Erikarai Street?

The Sub Registrar Office covering Karthikeyapuram 1st Street/Erikarai Street is 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 is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation or overvaluation. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Karthikeyapuram 1st Street/Erikarai Street?

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

How has the guideline value changed from 2023 to 2024?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft, which is a 10% increase.

What is the land classification for Karthikeyapuram 1st Street/Erikarai Street?

Karthikeyapuram 1st Street/Erikarai Street is classified as Residential Class I Type - I.

Where can I find the registration office for Karthikeyapuram 1st Street/Erikarai Street?

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

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Karthikeyapuram 1st Street/Erikarai Street's value being above this median.