Guideline Value for Karthikeyapuram Main Road

Karthikeyapuram Main Road guideline value

The current guideline value of Karthikeyapuram Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Karthikeyapuram Main Road has changed

The guideline value register has no figures for Karthikeyapuram Main Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, which took effect on 1 July 2024, sets the guideline value at Rs 3,850 per sq.ft.

As there have been no figures recorded for this street in the previous revisions, the current value remains the only reference for Karthikeyapuram Main Road.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 of Rs 2,750 per sq.ft. The guideline value for Karthikeyapuram Main Road is above this median.

• Karthikeyapuram Lake View Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram/Sabari Salai(Adhi Kesavan Pillai Street): Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Lake View 3rd Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Sathiyaseelan Street, 13th Street: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Extn: Rs 3,850 per sq.ft (2024)
• Karthikeyapuram Erikarai Street 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram Main Road

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 at 7% would amount to 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthikeyapuram Main Road?

Karthikeyapuram Main Road 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 details.

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

The guideline value plays a crucial role during property registration in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the overall cost of the transaction. This ensures that all parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Karthikeyapuram Main Road?

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

How has the guideline value changed over the years?

The guideline value register has no figures for Karthikeyapuram Main Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which sets the value at Rs 3,850 per sq.ft.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 also have a guideline value of Rs 3,850 per sq.ft in 2024. These streets include Karthikeyapuram Lake View Street, Karthikeyapuram/Sabari Salai(Adhi Kesavan Pillai Street), Karthikeyapuram Lake View 3rd Street, Karthikeyapuram Sathiyaseelan Street, 13th Street, Karthikeyapuram Extn, and Karthikeyapuram Erikarai Street 3rd Street.

How is stamp duty calculated for properties on Karthikeyapuram Main Road?

Stamp duty for properties on Karthikeyapuram Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.

Which office handles property registrations for Karthikeyapuram Main Road?

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