Guideline Value for Krishna Street (Ponniamman Medu)

Krishna Street (Ponniamman Medu) guideline value

The current guideline value of Krishna Street (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Krishna Street (Ponniamman Medu) has changed

The guideline value for Krishna Street (Ponniamman Medu) has been revised several times over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which represents an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Krishna Street was not specified in the register for the aforementioned years. The 2024 revision marks a notable change in the value, reflecting adjustments made in the local real estate market.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Krishna Street's 2024 figure below this median.

• K.Sundaram Nagar: Rs 1,300 per sq.ft (2024)
• Krishnappan st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Krishnappan St (Ward-02): Rs 1,300 per sq.ft (2024)
• Krishna Nagar ( Ward No.8 ): Rs 2,200 per sq.ft (2024)
• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Roads ( Ward No.3 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Street (Ponniamman Medu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishna Street (Ponniamman Medu)?

The Sub Registrar Office that covers Krishna Street (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the 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 in the area.

Frequently asked questions

What is the current guideline value of Krishna Street (Ponniamman Medu)?

The current guideline value of Krishna Street (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase.

What is the land classification of Krishna Street (Ponniamman Medu)?

Krishna Street (Ponniamman Medu) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.