Guideline Value for Karthikeyapuram 4th Street

Karthikeyapuram 4th Street guideline value

The current guideline value of Karthikeyapuram 4th Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Karthikeyapuram 4th Street has changed

The guideline value for Karthikeyapuram 4th Street has undergone 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 revision took place in 2024, setting the guideline value at Rs 3,850 per sq.ft, which reflects a 10% increase from the previous revision in 2023, where the value was Rs 3,500 per sq.ft.

Prior to the 2023 revision, there were no recorded figures for the street in the years mentioned. The 2024 revision marks a significant update, aligning the street's value with that of other streets in the area, indicating a consistent valuation approach within the locality.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Karthikeyapuram 4th Street's 2024 guideline value is above this median, indicating its relative positioning within the village.

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

Stamp duty and registration fee for property in Karthikeyapuram 4th 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.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthikeyapuram 4th Street?

The Karthikeyapuram 4th Street 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 a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 4th Street?

The current guideline value of Karthikeyapuram 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Karthikeyapuram 4th Street has seen a change from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Karthikeyapuram 4th Street?

Karthikeyapuram 4th Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.

How is stamp duty calculated for properties in Karthikeyapuram 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,69,500.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the Karthikeyapuram area.