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 Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Krishtappa Street has undergone several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. However, the value saw a significant increase to Rs 500 per sq.ft in 2023, and it further rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Krishtappa Street's 2024 figure 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 rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 information.

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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value as it impacts the overall transaction costs. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 are the other streets in Sattamangalam with their guideline values?

Other streets in Sattamangalam include K.S.Puram Pambakal Street at Rs 440 per sq.ft, Kulakkarai Street Old (Ward -15) at Rs 440 per sq.ft, and Kulakkarai Street Old (Ward -18) at Rs 550 per sq.ft, among others.

What is the stamp duty for a property on Krishtappa Street?

The stamp duty for a property on Krishtappa Street is calculated at 7% of the guideline value. For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.

Where can I find the Sub Registrar Office for Krishtappa Street?

The Sub Registrar Office covering Krishtappa Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.