Guideline Value for Sri Karthikeyan Nagar Extension

Sri Karthikeyan Nagar Extension guideline value

The current guideline value of Sri Karthikeyan Nagar Extension 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 Nagar Extension has changed

The guideline value for Sri Karthikeyan Nagar Extension has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 830 per sq.ft, an increase from Rs 750 per sq.ft in 2023. Prior to that, the value was Rs 502 per sq.ft in 2017, and Rs 750 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

Examining the changes, there was an increase of 11% from 2023 to 2024. From 2017 to 2023, the value saw a significant rise of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Padappai

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

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

Stamp duty and registration fee for property in Sri Karthikeyan Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 830 per sq.ft, the 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, totaling Rs 74,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Karthikeyan Nagar Extension?

The Sri Karthikeyan Nagar Extension falls under 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Karthikeyan Nagar Extension?

The current guideline value of Sri Karthikeyan Nagar Extension 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 2023 to Rs 830 per sq.ft in 2024, marking an increase of 11%. From 2017 to 2023, it rose by 49%, while it decreased by 33% from 2012 to 2017.

What is the land classification for Sri Karthikeyan Nagar Extension?

Sri Karthikeyan Nagar Extension is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Sri Karthikeyan Nagar Extension?

The stamp duty for properties in Sri Karthikeyan Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Padappai Sub Registrar Office?

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