Guideline Value for karthik nagar Extn-VI

karthik nagar Extn-VI guideline value

The current guideline value of Karthik Nagar Extn-VI is Rs 1,200 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of karthik nagar Extn-VI has changed

The guideline value for Karthik Nagar Extn-VI has remained stable at Rs 1,200 per sq.ft from the 2023 revision through the 2024 revision, reflecting no change. Prior to this, in the 2017 revision, the value was Rs 804 per sq.ft, which indicates a significant increase of 49% to reach the 2023 figure.

Looking further back, the 2012 revision also set the value at Rs 1,200 per sq.ft, but this was a decrease of 33% from the 2017 figure. Overall, comparing the 2012 and 2024 revisions, the guideline value per sq.ft has not changed, remaining at Rs 1,200.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which is equal to the guideline value of Karthik Nagar Extn-VI.

• Karthik Nagar Extn-V: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-IV: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-III: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-II: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-I: Rs 1,200 per sq.ft (2024)
• Karthik Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in karthik nagar Extn-VI

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers karthik nagar Extn-VI?

The Karthik Nagar Extn-VI area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when completing a property transaction.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Karthik Nagar Extn-VI?

The current guideline value of Karthik Nagar Extn-VI is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 1,200 per sq.ft from 2023 to 2024. However, it increased by 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Karthik Nagar Extn-VI?

The Gooduvancheri Sub Registrar Office handles registrations for Karthik Nagar Extn-VI, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Are there other streets with the same guideline value in Madambakkam?

Yes, several other streets in Madambakkam also have a guideline value of Rs 1,200 per sq.ft for 2024, including Karthik Nagar Extn-V, IV, III, II, I, and Karthik Nagar.