Guideline Value for Karthikeyapuram 3rd Cross Street

Karthikeyapuram 3rd Cross Street guideline value

The current guideline value of Karthikeyapuram 3rd 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 3rd Cross Street has changed

The guideline value for Karthikeyapuram 3rd Cross Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show an increase from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% rise.

Prior to the 2023 revision, the last recorded figure was Rs 3,500 per sq.ft. This increase reflects the updated valuation as of July 2024, which places the current guideline value at Rs 3,850 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Karthikeyapuram 3rd Cross Street is above this median, indicating its higher valuation within the village.

• Karthikeyapuram 2nd Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 2nd Cross Street/Lalithambal Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 2nd Cross Street(Jaya Nagar): Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 4th Street 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 3rd Cross 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, calculated at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total costs 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 our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Karthikeyapuram 3rd Cross Street?

The Karthikeyapuram 3rd Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial 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 applicable to the transaction.

When a property is sold, the guideline value is taken into account to ensure that the transaction is registered at a value that reflects the current market conditions, thereby ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 3rd Cross Street?

The current guideline value of Karthikeyapuram 3rd 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, representing a 10% increase.

What is the land classification for Karthikeyapuram 3rd Cross Street?

Karthikeyapuram 3rd 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.

What are the registration fees based on the guideline value?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 at 7%, and the registration fee is Rs 77,000 at 2%, totaling Rs 3,46,500.