Guideline Value for Krishanamachari Street

Krishanamachari Street guideline value

The current guideline value of Krishanamachari Street in Oragadam village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Krishanamachari Street has changed

Over the years, the guideline value of Krishanamachari Street has seen several revisions. In 2007, the guideline value was Rs 500 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for Krishanamachari Street. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Krishanamachari Street is below this median.

• Krishnamenan Street: Rs 1,600 per sq.ft (2024)
• Koil Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Koil Cross Street: Rs 1,800 per sq.ft (2024)
• Kulakkarai Street: Rs 1,600 per sq.ft (2024)
• Kumaran Cross Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishanamachari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Krishanamachari Street?

The Sub Registrar Office that covers Krishanamachari Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Oragadam, the guideline value plays a crucial role in the registration process. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in real estate dealings.

Frequently asked questions

What is the current guideline value of Krishanamachari Street?

The current guideline value of Krishanamachari Street is Rs 1,600 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 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification of Krishanamachari Street?

Krishanamachari Street is classified as Residential Class II Type - I.

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

The Ambattur Sub Registrar Office covers Krishanamachari Street and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Krishanamachari Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,12,000.