Guideline Value for Kishanlal Avenue

Kishanlal Avenue guideline value

The current guideline value of Kishanlal Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kishanlal Avenue has changed

The guideline value for Kishanlal Avenue has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, and then 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, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value of these streets is Rs 1,650 per sq.ft, placing Kishanlal Avenue's 2024 figure above that median.

• Kensis Shakthi Nagar: Rs 1,650 per sq.ft (2024)
• Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Krishna Nagar I, II and III: Rs 1,320 per sq.ft (2024)
• Krishna Nagar Part I: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Part II: Rs 1,650 per sq.ft (2024)
• Kuberar Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kishanlal Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kishanlal Avenue?

The Kishanlal Avenue is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable charges, which are based on the higher value between the guideline value and the sale price. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Kishanlal Avenue?

The current guideline value of Kishanlal Avenue 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kishanlal Avenue?

Kishanlal Avenue is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Kishanlal Avenue?

The registration office for Kishanlal Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Kishanlal Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.