Guideline Value for Krishna Murthi Street

Krishna Murthi Street guideline value

The current guideline value of Krishna Murthi Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Krishna Murthi Street has changed

The guideline value for Krishna Murthi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision raised it further to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register does not contain figures for the years 2002, 2003, or 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai village, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Krishna Murthi Street's 2024 guideline value of Rs 880 per sq.ft is above this median.

• Krishtappa Street: Rs 880 per sq.ft (2024)
• Koil Pathagai Main Road: Rs 1,300 per sq.ft (2024)
• Kulakkarai Street: Rs 805 per sq.ft (2024)
• Kirupa Nagar Extn.: Rs 807 per sq.ft (2024)
• Kirupa Nagar: Rs 807 per sq.ft (2024)
• Kesavan Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Murthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Murthi Street?

The Sub Registrar Office that covers Krishna Murthi 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 Kovilpathagai

The guideline value is a critical factor in property transactions in Kovilpathagai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as set by the local authorities. It is essential for both buyers and sellers to be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Murthi Street?

The current guideline value of Krishna Murthi Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Kovilpathagai?

The median guideline value for streets in Kovilpathagai is Rs 870 per sq.ft, with Krishna Murthi Street's 2024 value of Rs 880 per sq.ft being above this median.

What are the stamp duty and registration fees for a property on this street?

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles the registration for properties in Krishna Murthi Street?

The Ambattur Sub Registrar Office handles the registration for properties in Krishna Murthi Street, located in Villivakkam Panchayat Union Board, Ambattur.