Guideline Value for KRISHNAVENI AMMAL NAGAR

Krishnaveni Ammal Nagar guideline value

The current guideline value of Krishnaveni Ammal Nagar, located in Iyyappanthangal village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishnaveni Ammal Nagar has changed

Over the years, the guideline value for Krishnaveni Ammal Nagar has seen several revisions. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The latest revision in 2024 saw another increase of 10%, setting the current guideline value at Rs 2,750 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value is Rs 2,200 per sq.ft, and the guideline value for Krishnaveni Ammal Nagar is above this median.

• Krishnaveniammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue: Rs 2,200 per sq.ft (2024)
• Kumari Nagar: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaveni Ammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Krishnaveni Ammal Nagar?

The Sub Registrar Office that covers Krishnaveni Ammal Nagar is 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 Iyyappanthangal

The guideline value is a crucial factor in the registration process for property transactions in Iyyappanthangal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Krishnaveni Ammal Nagar?

The current guideline value of Krishnaveni Ammal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Iyyappanthangal?

The median guideline value in Iyyappanthangal is Rs 2,200 per sq.ft, with Krishnaveni Ammal Nagar's value being above this median.

What are the stamp duty rates for properties in Krishnaveni Ammal Nagar?

The stamp duty for properties in Krishnaveni Ammal Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Krishnaveni Ammal Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Krishnaveni Ammal Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.