Guideline Value for Krishna Aiyer Street

Krishna Aiyer Street guideline value

The current guideline value of Krishna Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - I.

How the guideline value of Krishna Aiyer Street has changed

Over the years, the guideline value of Krishna Aiyer Street has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 175%. However, in 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The 2023 revision raised the value to Rs 5,500 per sq.ft, and the most recent 2024 revision has set it at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

In summary, from the 2007 revision to the current 2024 figure, the guideline value has increased by 200%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Krishna Aiyer Street's 2024 value above this median.

• Korsa Sahib Street: Rs 4,400 per sq.ft (2024)
• Korsa Sahib Lane: Rs 4,400 per sq.ft (2024)
• Kondithoppu Street: Rs 3,800 per sq.ft (2024)
• Kondala Aiyer Street: Rs 4,400 per sq.ft (2024)
• Krishnappa Maistry Street: Rs 4,400 per sq.ft (2024)
• Krishnappa Naicken Agraharam Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Aiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Aiyer Street?

The Sub Registrar Office covering Krishna Aiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Muthiyalpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

It is important for buyers and sellers to be aware of the current guideline values, as they directly influence the overall costs associated with property transactions. Accurate knowledge of these values can help in better financial planning during the buying or selling process.

Frequently asked questions

What is the current guideline value of Krishna Aiyer Street?

The current guideline value of Krishna Aiyer Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Krishna Aiyer Street's value exceeding this median.

What are the stamp duty and registration fees for property in Krishna Aiyer Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000 based on the current guideline value.

Which office handles registrations for properties in Krishna Aiyer Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for properties in Krishna Aiyer Street.