Guideline Value for Duruvan Street /Krishna Nagar

Duruvan Street /Krishna Nagar guideline value

The current guideline value for Duruvan Street /Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Duruvan Street /Krishna Nagar has changed

The guideline value for Duruvan Street /Krishna Nagar has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which rose to Rs 335 per sq.ft in 2003, marking a 68% increase. By the 2007 revision, the value had increased to Rs 470 per sq.ft, reflecting a 40% rise. The 2017 revision saw a substantial jump to Rs 1,541 per sq.ft, which was a 228% increase from 2007. The value continued to rise to Rs 2,300 per sq.ft in 2023, representing a 49% increase from the previous revision.

The latest revision in 2024 sets the guideline value at Rs 2,530 per sq.ft, a 10% increase from 2023. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values in 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, positioning Duruvan Street /Krishna Nagar above this median.

• East Main Road, Shankar Nagar: Rs 2,750 per sq.ft (2024)
• Durgaiamman Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Durgai Amman Koil Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Durai Velu Street /Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Easwaran Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Duraiswamy Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Duruvan Street /Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. 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 details.

Which Sub Registrar Office covers Duruvan Street /Krishna Nagar?

The Sub Registrar Office that covers Duruvan Street /Krishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a fair assessment of the property's value.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency in transactions and helps in avoiding disputes related to property valuations.

Frequently asked questions

What is the current guideline value for Duruvan Street /Krishna Nagar?

The current guideline value for Duruvan Street /Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 1165%.

What is the median guideline value in Pammal village?

The median guideline value in Pammal village is Rs 2,090 per sq.ft, which is below the current value of Duruvan Street /Krishna Nagar.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Sub Registrar Office covering Duruvan Street /Krishna Nagar at the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.