Guideline Value for Grey Nagar Krishnappa Street

Grey Nagar Krishnappa Street guideline value

The current guideline value of Grey Nagar Krishnappa Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Grey Nagar Krishnappa Street has changed

The guideline value for Grey Nagar Krishnappa Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value increased by 317% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 350%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Grey Nagar Krishnappa Street is below this median.

• Grey Nagar Krishnapillai 3rd street: Rs 2,700 per sq.ft (2024)
• Grey Nagar 4th cross Street: Rs 2,700 per sq.ft (2024)
• Grey Nagar 3rdStreet: Rs 2,700 per sq.ft (2024)
• Grey Nagar 3rd cross Street: Rs 2,700 per sq.ft (2024)
• Grey Nagar 2ndStreet: Rs 2,700 per sq.ft (2024)
• Grey Nagar 2nd cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Grey Nagar Krishnappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Grey Nagar Krishnappa Street?

The Grey Nagar Krishnappa Street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is referred to ensure that the correct fees are collected. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value and the sale price, ensuring compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Grey Nagar Krishnappa Street?

The current guideline value of Grey Nagar Krishnappa Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What is the land classification for Grey Nagar Krishnappa Street?

Grey Nagar Krishnappa Street is classified as Residential Class IV Type - I.

Where can I find the registration office for properties in Grey Nagar Krishnappa Street?

The registration office for properties in Grey Nagar Krishnappa Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.