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Guideline Value

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Guideline Value for Karthikeyapuram 2nd Cross Street(Jaya Nagar)

₹3850/sq.ft.

The guideline value for Karthikeyapuram 2nd Cross Street(jaya Nagar) 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 2nd Cross Street(jaya Nagar)

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Karthikeyapuram 2nd Cross Street(Jaya Nagar) guideline value

The current guideline value for Karthikeyapuram 2nd Cross Street(Jaya Nagar) is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karthikeyapuram 2nd Cross Street(Jaya Nagar) has changed

The guideline value for Karthikeyapuram 2nd Cross Street(Jaya Nagar) has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 3,500 per sq.ft, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision, effective from 1 July 2024.

This increase reflects the changes in property valuation in the area, indicating a rise in the guideline value from the previous year. The 2024 figure of Rs 3,850 per sq.ft is above the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft in 2024. Karthikeyapuram 2nd Cross Street(Jaya Nagar) is positioned above the median value of Rs 2,750 per sq.ft. The following are other streets in Madipakkam-1 with their respective guideline values:

Stamp duty and registration fee for property in Karthikeyapuram 2nd Cross Street(Jaya Nagar)

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, leading to a total of 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthikeyapuram 2nd Cross Street(Jaya Nagar)?

The Karthikeyapuram 2nd Cross Street(Jaya Nagar) falls under 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 an important factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Karthikeyapuram 2nd Cross Street(Jaya Nagar)?

The current guideline value for Karthikeyapuram 2nd Cross Street(Jaya Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Karthikeyapuram 2nd Cross Street(Jaya Nagar)?

The land classification for Karthikeyapuram 2nd Cross Street(Jaya Nagar) is Residential Class I Type - I.

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 the stamp duty calculated for properties in Karthikeyapuram 2nd Cross Street(Jaya Nagar)?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.