Guideline Value for Karthikeyapuram 2nd Cross Street

Karthikeyapuram 2nd Cross Street guideline value

The current guideline value of Karthikeyapuram 2nd 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 is classified as Residential Class I Type - I.

How the guideline value of Karthikeyapuram 2nd Cross Street has changed

The guideline value for Karthikeyapuram 2nd Cross Street has seen revisions over the years, with the most recent being in 2024 at Rs 3,850 per sq.ft. Prior to this, the 2023 revision set the value at Rs 3,500 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street. The only revisions recorded in the register are for 2023 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values 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, positioning Karthikeyapuram 2nd Cross Street above this median.

• Karthikeyapuram 1st Street/Erikarai Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 2nd Cross Street(Jaya Nagar): Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 2nd Cross Street/Lalithambal Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karthikeyapuram 2nd Cross Street?

The Karthikeyapuram 2nd Cross 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 during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value is used to determine the minimum value at which the property can be registered. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 2nd Cross Street?

The current guideline value of Karthikeyapuram 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

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

What is the land classification for Karthikeyapuram 2nd Cross Street?

Karthikeyapuram 2nd Cross Street is classified as 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 stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.