Guideline Value for Krishnamachari Avenue

Krishnamachari Avenue guideline value

The current guideline value of Krishnamachari Avenue is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO, and the land classification is Residential Special Type - I.

How the guideline value of Krishnamachari Avenue has changed

The guideline value for Krishnamachari Avenue has undergone several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 1,313 per sq.ft. This figure increased to Rs 1,415 per sq.ft in 2003, marking an increase of 8%. The value saw significant growth, reaching Rs 6,500 per sq.ft in 2007, which was a remarkable increase of 359%. In 2012, the value adjusted to Rs 8,500 per sq.ft, reflecting a decrease of 33%. The next revision in 2017 saw the value rise to Rs 5,695 per sq.ft, followed by a substantial increase to Rs 8,500 per sq.ft in 2023, before reaching the current rate of Rs 9,400 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 616%. Notably, there are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median of Rs 6,100 per sq.ft. The guideline value for Krishnamachari Avenue is above this median.

• Kottur Garden 4th Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 1st Main Road: Rs 9,400 per sq.ft (2024)
• Kulakkarai Road: Rs 5,000 per sq.ft (2024)
• Kasthuribai Nagar Arangannal Salai: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamachari Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, totaling Rs 8,46,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamachari Avenue?

The Sub Registrar Office that covers Krishnamachari Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kottur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Krishnamachari Avenue?

The current guideline value of Krishnamachari Avenue is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,313 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, reflecting an overall increase of 616% over this period.

What is the land classification for Krishnamachari Avenue?

The land classification for Krishnamachari Avenue is Residential Special Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 at a rate of 7%.