Guideline Value for Krishna Avenue

Krishna Avenue guideline value

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

How the guideline value of Krishna Avenue has changed

The guideline value for Krishna Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and finally, it has been revised to Rs 1,900 per sq.ft in 2024, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The changes between the revisions include a significant 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,150 per sq.ft. Krishna Avenue's current guideline value is below this median.

• Krishna Avenue 1st Street: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Avenue?

The Sub Registrar Office that covers Krishna Avenue 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 plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly influence the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Krishna Avenue?

The current guideline value of Krishna Avenue 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 increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

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

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 Sub Registrar Office covers Krishna Avenue?

The Selaiyur Sub Registrar Office covers Krishna Avenue, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Krishna Avenue?

Krishna Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.