Guideline Value

Corporate

Guideline Value for Karthikeyapuram 1st Street

₹3850/sq.ft.

The guideline value for Karthikeyapuram 1st 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 ₹2345 /sq.ft.
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

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Karthikeyapuram 1st Street guideline value

The current guideline value of Karthikeyapuram 1st 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, classified as Residential Class I Type - I.

How the guideline value of Karthikeyapuram 1st Street has changed

The guideline value for Karthikeyapuram 1st Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to 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 the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 1st Street's 2024 figure above this median.

Stamp duty and registration fee for property in Karthikeyapuram 1st 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, bringing the total fees together to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karthikeyapuram 1st Street?

Karthikeyapuram 1st Street falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madipakkam-1, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

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

What is the stamp duty rate applicable for properties in Karthikeyapuram 1st Street?

The stamp duty rate applicable for properties in Karthikeyapuram 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karthikeyapuram 1st Street?

The Velacheri Sub Registrar Office covers Karthikeyapuram 1st Street, 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's value being above this median.