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Guideline Value

Corporate

Guideline Value for Krishnamachari Nagar 1st Street

₹3600/sq.ft.

The guideline value for Krishnamachari Nagar 1st Street 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 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹481 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹439 /sq.ft.
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 Street

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Krishnamachari Nagar 1st Street guideline value

The current guideline value of Krishnamachari Nagar 1st Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Krishnamachari Nagar 1st Street has changed

The guideline value for Krishnamachari Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 439 per sq.ft. This increased to Rs 481 per sq.ft in 2003, marking a 10% rise. The value then saw a further increase of 25% to Rs 600 per sq.ft in 2007. Following this, there was a significant jump of 442%, bringing the value to Rs 3,250 per sq.ft in 2012. However, the value decreased by 33% to Rs 2,177 per sq.ft in 2017. The 2023 revision set the value at Rs 3,250 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,600 per sq.ft, reflecting an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 720%. There are no figures available for the revisions of years not listed in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, and Krishnamachari Nagar 1st Street's 2024 figure is above this median.

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

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, while the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnamachari Nagar 1st Street?

The Sub Registrar Office that covers Krishnamachari Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price of the property.

Frequently asked questions

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

The current guideline value of Krishnamachari Nagar 1st Street 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 changed from Rs 439 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of 720% over this period.

What is the land classification of Krishnamachari Nagar 1st Street?

Krishnamachari Nagar 1st Street is classified as Residential Class I Type - II.

Which office handles registrations for properties in Krishnamachari Nagar 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for properties in Krishnamachari Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,52,000.