Guideline Value for Karthikeyapuram 3rd Street

Karthikeyapuram 3rd Street guideline value

The current guideline value for Karthikeyapuram 3rd 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karthikeyapuram 3rd Street has changed

The guideline value for Karthikeyapuram 3rd Street has undergone several revisions over the years. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 3,500 per sq.ft in 2023, which increased by 10% to Rs 3,850 per sq.ft in 2024.

Prior to the 2023 revision, there are no recorded values for the street in the register. The 2024 revision marks a significant increase from the previous year, reflecting the current guideline value of Rs 3,850 per sq.ft.

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 for the area is Rs 2,750 per sq.ft, placing Karthikeyapuram 3rd Street above this median.

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

Stamp duty and registration fee for property in Karthikeyapuram 3rd 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 charges 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Karthikeyapuram 3rd Street?

Karthikeyapuram 3rd Street falls under 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 helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant.

When you register a property, the guideline value serves as a benchmark for calculating the applicable duties. This ensures that both buyers and sellers are aware of the financial implications associated with the transaction.

Frequently asked questions

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

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

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Karthikeyapuram 3rd Street?

The land classification for Karthikeyapuram 3rd Street is Residential Class I Type - I.

Where can I find the registration office for Karthikeyapuram 3rd Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. In the case of Karthikeyapuram 3rd Street, the guideline value is Rs 3,850 per sq.ft as of 2024.