Guideline Value for SRI KARTHIKEYAN NAGR

Sri Karthikeyan Nagr guideline value

The current guideline value of Sri Karthikeyan Nagr is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Karthikeyan Nagr has changed

The guideline value for Sri Karthikeyan Nagr has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 750 per sq.ft, and the latest 2024 revision further raised it to Rs 830 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the current value of Sri Karthikeyan Nagr.

• Sri Karthikeyan Nagar Phase VI Extn: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase VI: Rs 955 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase V: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase IV: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase III: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase II: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Karthikeyan Nagr

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, making the total cost for these fees Rs 74,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Karthikeyan Nagr?

The Sub Registrar Office that covers Sri Karthikeyan Nagr is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Padappai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the property is valued appropriately according to government standards.

When purchasing or selling property, the guideline value helps determine the legal value of the property being transacted. This ensures transparency and compliance with local regulations, protecting both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Sri Karthikeyan Nagr?

The current guideline value of Sri Karthikeyan Nagr is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What are the other streets in Padappai with similar guideline values?

Other streets in Padappai with a guideline value of Rs 830 per sq.ft include Sri Karthikeyan Nagar Phase VI Extn, Phase V, Phase IV, Phase III, and Phase II.

What are the stamp duty and registration fees for property in Sri Karthikeyan Nagr?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,30,000, with stamp duty at Rs 58,100 and registration fee at Rs 16,600, totaling Rs 74,700.

Where is the Sub Registrar Office for Sri Karthikeyan Nagr located?

The Sub Registrar Office for Sri Karthikeyan Nagr is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.