Guideline Value for Karthikeyapuram 5th Street

Karthikeyapuram 5th Street guideline value

The current guideline value of Karthikeyapuram 5th 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 5th Street has changed

In the 2017 revision, the guideline value for Karthikeyapuram 5th Street was Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase further to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Karthikeyapuram 5th Street's 2024 figure above this median.

• Karthikeyapuram 4th Street, III Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 6th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 4th Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 7th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 4th Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram 5th 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 cost for these fees 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 5th Street?

Karthikeyapuram 5th 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It is the minimum value set by the government for properties in the area, and this value is used to calculate the stamp duty and registration fees that buyers must pay at the time of registration.

When purchasing property, buyers should be aware that the guideline value is often considered in financial transactions. It serves as a reference point to ensure that properties are not undervalued during the sale process, thus safeguarding the interests of both buyers and the government.

Frequently asked questions

What is the current guideline value of Karthikeyapuram 5th Street?

The current guideline value of Karthikeyapuram 5th 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 has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is below the current guideline value of Karthikeyapuram 5th Street.

What are the stamp duty and registration fees for properties in Karthikeyapuram 5th Street?

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

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.