Guideline Value for Krishna Avenue 1st Street

Krishna Avenue 1st Street guideline value

The current guideline value of Krishna Avenue 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Krishna Avenue 1st Street has changed

The guideline value for Krishna Avenue 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft in 2024, reflecting a 6% increase from the previous year.

There are no recorded guideline values for the years 2002, 2003, and 2007 for Krishna Avenue 1st Street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, which means that Krishna Avenue 1st Street's 2024 figure is below this median.

• Krishna Avenue: Rs 1,900 per sq.ft (2024)
• Krishna Avenue 2nd Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue Main Road: Rs 1,900 per sq.ft (2024)
• Krishna Nagar: Rs 2,400 per sq.ft (2024)
• Koushik Avenue Ext III: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext II: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, these fees would total Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Avenue 1st Street?

The Sub Registrar Office that covers Krishna Avenue 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for any further inquiries.

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

The guideline value plays a crucial role in property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value of a property when registering a sale. Buyers and sellers must consider this value to ensure that the registration process adheres to local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishna Avenue 1st Street?

The current guideline value of Krishna Avenue 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,800 per sq.ft in 2012, dropping to Rs 1,206 per sq.ft in 2017, then increasing to Rs 1,800 per sq.ft in 2023, and finally reaching Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office registers properties in Krishna Avenue 1st Street?

The Selaiyur Sub Registrar Office is responsible for registering properties in Krishna Avenue 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Krishna Avenue 1st Street?

The land classification for Krishna Avenue 1st Street is Residential Class I Type - II, indicating its suitability for residential development.