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Guideline Value

Corporate

Guideline Value for Krishnamachari Nagar 6th Street

₹3600/sq.ft.

The guideline value for Krishnamachari Nagar 6th 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 6th Street

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Krishnamachari Nagar 6th Street guideline value

The current guideline value of Krishnamachari Nagar 6th 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Krishnamachari Nagar 6th Street has changed

The guideline value for Krishnamachari Nagar 6th Street has seen several revisions over the years. In 2002, the value was Rs 439 per sq.ft, which increased to Rs 481 per sq.ft in 2003. Following this, the value rose to Rs 600 per sq.ft in 2007, and then to Rs 3,250 per sq.ft in 2012. However, it decreased to Rs 2,177 per sq.ft in 2017. The value then increased significantly to Rs 3,250 per sq.ft in 2023, before reaching the current value of Rs 3,600 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +10%. The value rose by +25% from 2003 to 2007, followed by a substantial increase of +442% from 2007 to 2012. The value then dropped by -33% from 2012 to 2017. A significant increase of +49% occurred from 2017 to 2023, and the current revision from 2023 to 2024 reflects an increase of +11%. Overall, from 2002 to 2024, the guideline value has 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 as of 2024. The median value for these streets is Rs 3,050 per sq.ft, positioning Krishnamachari Nagar 6th Street above this median.

Stamp duty and registration fee for property in Krishnamachari Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamachari Nagar 6th Street?

The Sub Registrar Office covering Krishnamachari Nagar 6th 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 plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnamachari Nagar 6th Street?

The current guideline value of Krishnamachari Nagar 6th 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, reflecting an overall increase of +720%.

What is the registration office for Krishnamachari Nagar 6th Street?

The registration office for Krishnamachari Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

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

What are the guideline values for other streets in Maduravoyal?

Other streets in Maduravoyal under the Virugambakkam SRO have a guideline value of Rs 3,600 per sq.ft as of 2024, including Krishnamachari Nagar 5th, 7th, 4th, 8th, 3rd, and 9th Streets.