Guideline Value for KRISHTAPPA STREET (WARD -17)

Krishtappa Street (Ward -17) guideline value

The current guideline value of Krishtappa Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Krishtappa Street (Ward -17) has changed

Looking at the revisions, the guideline value for Krishtappa Street (Ward -17) has seen several changes over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, indicating that the guideline value of Krishtappa Street (Ward -17) is below this median.

• K.S.Puram Pambakal Street (Ward -15): Rs 440 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 440 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 550 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Krishtappa Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the 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 Krishtappa Street (Ward -17)?

The Sub Registrar Office that covers Krishtappa Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is legally documented and the government receives its due revenue.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction reflects a fair valuation for taxation purposes, helping maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Krishtappa Street (Ward -17)?

The current guideline value of Krishtappa Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Krishtappa Street (Ward -17)?

Krishtappa Street (Ward -17) is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Krishtappa Street (Ward -17)?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 49,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Krishtappa Street (Ward -17)?

The Chengleput Joint II Sub Registrar Office covers Krishtappa Street (Ward -17) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.