Guideline Value for Krishnamachari Nagar 4th Street

Krishnamachari Nagar 4th Street guideline value

The current guideline value of Krishnamachari Nagar 4th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Krishnamachari Nagar 4th Street has changed

The guideline value for Krishnamachari Nagar 4th Street has seen several revisions over the years. The earliest recorded figure is from 2002, at Rs 439 per sq.ft. This increased to Rs 481 per sq.ft in 2003, followed by a rise to Rs 700 per sq.ft in 2007. The value then surged to Rs 3,250 per sq.ft in 2012, before dropping to Rs 2,177 per sq.ft in 2017. The 2023 revision saw the value increase to Rs 3,250 per sq.ft, and the latest revision in 2024 set the value at Rs 3,600 per sq.ft.

Between the revisions, significant changes occurred. The increase from 2023 to 2024 was +11%. From 2017 to 2023, the value rose by +49%. However, there was a decrease of -33% from 2012 to 2017. The jump from 2007 to 2012 was remarkable at +364%, while the increase from 2003 to 2007 was +46%. The value rose by +10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value increased by +720%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Krishnamachari Nagar 4th Street above this median.

• Krishnamachari Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Krishnamachari Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Krishnamachari Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Krishnamachari Nagar 6th Street: Rs 3,600 per sq.ft (2024)
• Krishnamachari Nagar 2nd Main Road: Rs 3,600 per sq.ft (2024)
• Krishnamachari Nagar 7th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamachari Nagar 4th 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, and the registration fee at 2% would be Rs 72,000, resulting in a total of Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishnamachari Nagar 4th Street?

The Sub Registrar Office that covers Krishnamachari Nagar 4th 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 details.

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

The guideline value plays a crucial role in property transactions in Maduravoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid to the government. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

At the time of registration, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnamachari Nagar 4th Street?

The current guideline value of Krishnamachari Nagar 4th 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 significantly over the years, starting from Rs 439 per sq.ft in 2002 and reaching Rs 3,600 per sq.ft in 2024. Various revisions have resulted in increases and decreases at different intervals.

What is the land classification for Krishnamachari Nagar 4th Street?

Krishnamachari Nagar 4th Street is classified as Residential Class I Type - II. This classification is important for understanding the types of developments allowed in the area.

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 calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office, which covers Krishnamachari Nagar 4th Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.