Guideline Value for KRISHNA ENCLAVE 1ST RIGHT CROSS STREET

Krishna Enclave 1st Right Cross Street guideline value

The current guideline value for Krishna Enclave 1st Right Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Krishna Enclave 1st Right Cross Street has changed

Over the years, the guideline value for Krishna Enclave 1st Right Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value is Rs 2,530 per sq.ft, indicating that Krishna Enclave 1st Right Cross Street's 2024 figure is above that median.

• Krishna Enclave: Rs 3,300 per sq.ft (2024)
• Krishna Enclave 2nd Left Right Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Enclave Main Salai: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Enclave 1st Right Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Enclave 1st Right Cross Street?

The Krishna Enclave 1st Right Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Manapakkam. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair price. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the guideline value will determine the amount of stamp duty payable, which is calculated as a percentage of 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 Krishna Enclave 1st Right Cross Street?

The current guideline value of Krishna Enclave 1st Right Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for this street?

The land classification for Krishna Enclave 1st Right Cross Street is Residential Class I Type - I.

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

Other streets in Manapakkam include Krishna Enclave, Krishna Enclave 2nd Left Right Cross Street, and Krishna Enclave Main Salai, all at Rs 3,300 per sq.ft in 2024, along with Krishna Nagar 1st, 2nd, and 3rd Streets at Rs 2,530 per sq.ft.

Where can I find information about stamp duty and registration fees?

You can find information about stamp duty and registration fees using the stamp duty and registration fee calculator provided on the site.