Guideline Value for KRISHNAVENIAMMAL NAGAR 1ST STREET

Krishnaveniammal Nagar 1st Street guideline value

The current guideline value for Krishnaveniammal Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal 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 Krishnaveniammal Nagar 1st Street has changed

The guideline value for Krishnaveniammal Nagar 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the current 2024 figure shows a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Krishnaveniammal Nagar 1st Street above this median.

• Krishnaveni Ammal Nagar: 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 Krishnaveniammal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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, leading to a total cost of Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishnaveniammal Nagar 1st Street?

The Sub Registrar Office that covers Krishnaveniammal Nagar 1st Street 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in the assessment of taxes due. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Krishnaveniammal Nagar 1st Street?

The current guideline value for Krishnaveniammal Nagar 1st Street 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 for the 134 streets in Iyyappanthangal is Rs 2,200 per sq.ft, which means Krishnaveniammal Nagar 1st Street's value is above this median.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Krishnaveniammal Nagar 1st Street?

The registration for Krishnaveniammal Nagar 1st Street is handled 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.