Guideline Value for KIRISHNA FLATS

Kirishna Flats guideline value

The current guideline value of Kirishna Flats is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Kirishna Flats has changed

The guideline value for Kirishna Flats has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 1,005 per sq.ft. This increased to Rs 1,750 per sq.ft in 2007, marking a substantial rise of 74%. In 2012, the value increased further to Rs 6,000 per sq.ft, reflecting a remarkable growth of 243% from the previous revision. However, in 2017, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The trend reversed again with the 2023 revision, where the value rose to Rs 6,000 per sq.ft, and finally, the current revision in 2024 has set it at Rs 6,600 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 557%. It is important to note that there is no guideline value recorded for Kirishna Flats in the 2002 revision.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft as of 2024. The median guideline value in the village is Rs 4,900 per sq.ft, placing Kirishna Flats' current value above this median.

• Koyya Thoppu: Rs 5,500 per sq.ft (2024)
• Kulakaraistreet (Or) Tank Raod: Rs 2,200 per sq.ft (2024)
• Kumaraswamy Nagar: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar 1st Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar Cross: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kirishna Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, charged at 7%, would be Rs 4,62,000, and the registration fee, at 2%, would be Rs 1,32,000. Together, the total cost for stamp duty and registration fee would be Rs 5,94,000. It is important to note that the 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 Kirishna Flats?

The Kirishna Flats property falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures transparency and helps in preventing undervaluation of properties. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kirishna Flats?

The current guideline value of Kirishna Flats is Rs 6,600 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 1,005 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 557% over this period.

What are the other streets in Villivakkam with their guideline values?

Other streets in Villivakkam include Koyya Thoppu at Rs 5,500 per sq.ft, Kulakaraistreet (Or) Tank Raod at Rs 2,200 per sq.ft, and multiple streets in Kumaraswamy Nagar at Rs 5,500 per sq.ft.

What is the stamp duty rate for properties in Kirishna Flats?

The stamp duty rate for properties in Kirishna Flats is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kirishna Flats?

The Sub Registrar Office covering Kirishna Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.