Guideline Value for Karthikeyapuram

Karthikeyapuram guideline value

The current guideline value of Karthikeyapuram, located in Thalakanancherry village under the Alandur SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - III land classification.

How the guideline value of Karthikeyapuram has changed

Over the years, the guideline value of Karthikeyapuram has seen several revisions. The earliest recorded figure is from 2007, which was Rs 1,700 per sq.ft. This value increased to Rs 2,000 per sq.ft in 2012, marking an increase of 18%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. Following this, there was a significant increase to Rs 2,000 per sq.ft in 2023, which represented a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 29%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Karthikeyapuram's 2024 figure below this median.

• Karunanidhi Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Karunanidhi Nagar 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karthikeyapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karthikeyapuram?

Karthikeyapuram falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Thalakanancherry

The guideline value plays a crucial role in property transactions in Thalakanancherry. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This value is essential for ensuring that the transaction is recorded accurately in the official register.

Additionally, the guideline value helps to establish a baseline for property pricing in the area. It serves as a reference point for buyers and sellers, ensuring that both parties are aware of the minimum value recognized by the authorities for the property being transacted.

Frequently asked questions

What is the current guideline value of Karthikeyapuram?

The current guideline value of Karthikeyapuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,700 per sq.ft in 2007, increasing to Rs 2,000 in 2012, dropping to Rs 1,340 in 2017, rising again to Rs 2,000 in 2023, and finally reaching Rs 2,200 in 2024.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Karthikeyapuram's value being below this median.

What are the stamp duty and registration fees for property in Karthikeyapuram?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Karthikeyapuram?

The Alandur Sub Registrar Office handles property registrations for Karthikeyapuram, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.