Guideline Value for Sri Karthik Nagar

Sri Karthik Nagar guideline value

The current guideline value of Sri Karthik Nagar, located in Sekkadu village under the Avadi SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Karthik Nagar has changed

Over the years, the guideline value of Sri Karthik Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. The value then increased to Rs 1,200 per sq.ft in 2023, followed by the latest revision in 2024, which raised it to Rs 1,320 per sq.ft.

Specifically, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with the median being Rs 1,320 per sq.ft. The guideline value for Sri Karthik Nagar matches this median.

• Sri Padmavathy Garden - I: Rs 1,510 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,075 per sq.ft (2024)
• Singara Thirunagar: Rs 1,075 per sq.ft (2024)
• Sekkadu Mettu Street II: Rs 930 per sq.ft (2024)
• Sekkadu Mettu Street I: Rs 1,320 per sq.ft (2024)
• Thanigai Nagar: Rs 1,075 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Karthik Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Karthik Nagar?

Sri Karthik Nagar falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sekkadu. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is accurately documented. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Karthik Nagar?

The current guideline value of Sri Karthik Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sri Karthik Nagar?

Sri Karthik Nagar is classified as Residential Class II Type - I.

How is the stamp duty calculated for property in Sri Karthik Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, resulting in a stamp duty of Rs 92,400.

Where is the Sub Registrar Office for Sri Karthik Nagar located?

The Avadi Sub Registrar Office, which covers Sri Karthik Nagar, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.