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Guideline Value

Corporate

Guideline Value for Krishnamachari Nagar 1st Main Road

₹3600/sq.ft.

The guideline value for Krishnamachari Nagar 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2177 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Krishnamachari Nagar 1st Main Road

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Krishnamachari Nagar 1st Main Road guideline value

The current guideline value of Krishnamachari Nagar 1st Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Krishnamachari Nagar 1st Main Road has changed

The guideline value for Krishnamachari Nagar 1st Main Road has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,250 per sq.ft in 2012, marking a 364% increase. However, from 2012 to 2017, the value decreased to Rs 2,177 per sq.ft, a decline of 33%. The value then rose to Rs 3,250 per sq.ft in 2023, reflecting a 49% increase, and the most recent revision in 2024 set the value at Rs 3,600 per sq.ft, an 11% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 414%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for the village is Rs 3,050 per sq.ft, placing the 2024 guideline value of Krishnamachari Nagar 1st Main Road above this median.

Stamp duty and registration fee for property in Krishnamachari Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Krishnamachari Nagar 1st Main Road?

The Krishnamachari Nagar 1st Main Road is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is bought or sold, the guideline value helps to standardize the transaction process, making it easier for the registration office to assess the applicable fees. This system ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Krishnamachari Nagar 1st Main Road?

The current guideline value of Krishnamachari Nagar 1st Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 700 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, with notable changes in between, including a decrease from 2012 to 2017.

What is the land classification for Krishnamachari Nagar 1st Main Road?

The land classification for Krishnamachari Nagar 1st Main Road is Residential Class I Type - II, indicating its primary use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for properties in Krishnamachari Nagar 1st Main Road?

The registration for properties in Krishnamachari Nagar 1st Main Road is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.