Guideline Value for Baby Krishnan St ( Ward No.2 )

Baby Krishnan St ( Ward No.2 ) guideline value

The current guideline value for Baby Krishnan St ( Ward No.2 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Baby Krishnan St ( Ward No.2 ) has changed

The guideline value for Baby Krishnan St has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from the 2023 figure of Rs 1,200 per sq.ft, marking an 8% rise. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, there were no recorded figures for Baby Krishnan St. The 2024 value of Rs 1,300 per sq.ft places it below the median guideline value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

The guideline values for the streets in Madhavaram vary significantly, with the 2024 figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. Baby Krishnan St's value is below the median of Rs 1,600 per sq.ft. Below are some other streets in Madhavaram:

• Bagavathsingh Nagar / Street: Rs 2,200 per sq.ft (2024)
• Bagwatsingh Nagar / Extension ( Ward No.10 ): Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 3rd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Baby Krishnan St ( Ward No.2 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baby Krishnan St ( Ward No.2 )?

The Sub Registrar Office that covers Baby Krishnan St ( Ward No.2 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Baby Krishnan St ( Ward No.2 )?

The current guideline value of Baby Krishnan St ( Ward No.2 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, representing an 8% increase.

What is the land classification of Baby Krishnan St ( Ward No.2 )?

Baby Krishnan St ( Ward No.2 ) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Baby Krishnan St ( Ward No.2 )?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Baby Krishnan St ( Ward No.2 )?

The Madhavaram Sub Registrar Office handles registrations for Baby Krishnan St ( Ward No.2 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.