Guideline Value for Krishna Avenue 2nd Street

Krishna Avenue 2nd Street guideline value

The current guideline value of Krishna Avenue 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Krishna Avenue 2nd Street has changed

The guideline value for Krishna Avenue 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was later reduced to Rs 1,206 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, representing a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Rajakilpakkam

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

• Krishna Avenue 1st Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue: 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 2nd Street

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

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

Which Sub Registrar Office covers Krishna Avenue 2nd Street?

The Sub Registrar Office that covers Krishna Avenue 2nd 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 more information.

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

The guideline value is an important factor during the registration of property transactions in Rajakilpakkam. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value must be considered alongside the actual sale price. The stamp duty is calculated based on the higher of the two values, which helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Krishna Avenue 2nd Street?

The current guideline value of Krishna Avenue 2nd 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Krishna Avenue 2nd Street?

Krishna Avenue 2nd Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Which office handles property registrations for Krishna Avenue 2nd Street?

The Selaiyur Sub Registrar Office handles property registrations for Krishna Avenue 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.