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Guideline Value

Corporate

Guideline Value for Krishnamachari Nagar 7th Street

₹3600/sq.ft.

The guideline value for Krishnamachari Nagar 7th 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 7th Street

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Krishnamachari Nagar 7th Street guideline value

The current guideline value of Krishnamachari Nagar 7th 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 7th Street has changed

The guideline value for Krishnamachari Nagar 7th Street has seen several revisions over the years. In the 2002 revision, the value was Rs 439 per sq.ft. This increased to Rs 481 per sq.ft in 2003, marking a 10% rise. The value further increased by 25% to Rs 600 per sq.ft in 2007. However, there was a significant jump to Rs 3,250 per sq.ft in the 2012 revision, reflecting a 442% increase. The value then decreased by 33% to Rs 2,177 per sq.ft in 2017. Following this, the 2023 revision set the value at Rs 3,250 per sq.ft, and the latest 2024 revision has increased it to Rs 3,600 per sq.ft, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 720%. The register has no figure for the years not mentioned in the revisions.

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 value is Rs 3,050 per sq.ft, and the 2024 guideline value for Krishnamachari Nagar 7th Street is above this median.

Stamp duty and registration fee for property in Krishnamachari Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,600 per sq.ft, the 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. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnamachari Nagar 7th Street?

The Sub Registrar Office that covers Krishnamachari Nagar 7th 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 when buying or selling property in Maduravoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When you proceed with a property transaction, the guideline value helps in assessing the legal and financial obligations involved. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishnamachari Nagar 7th Street?

The current guideline value of Krishnamachari Nagar 7th 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 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 registration office for Krishnamachari Nagar 7th Street?

The registration office for Krishnamachari Nagar 7th 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 Krishnamachari Nagar 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 at a rate of 7%.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal, such as Krishnamachari Nagar 6th, 8th, 5th, 9th, 4th, and 3rd Streets, all have a guideline value of Rs 3,600 per sq.ft for 2024.