Guideline Value for Krishnamachari Nagar - Gugan Street

Krishnamachari Nagar - Gugan Street guideline value

The current guideline value of Krishnamachari Nagar - Gugan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Krishnamachari Nagar - Gugan Street has changed

The guideline value for Krishnamachari Nagar - Gugan Street has seen significant changes over the years. In the 2007 revision, the value was Rs 650 per sq.ft, which then increased to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. The change from 2007 to 2012 was a substantial increase of 438%, and overall, from 2007 to 2024, the guideline value has risen by 492%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which matches the 2024 figure for Krishnamachari Nagar - Gugan Street.

• Krishnamachari Nagar - Velmurugan Street: Rs 3,850 per sq.ft (2024)
• Krishnamachari Salai: Rs 3,850 per sq.ft (2024)
• Krishnan Koil Street: Rs 3,850 per sq.ft (2024)
• Krishna Street: Rs 5,550 per sq.ft (2024)
• Kuberan Street: Rs 3,300 per sq.ft (2024)
• Kumaran Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamachari Nagar - Gugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Krishnamachari Nagar - Gugan Street?

The Krishnamachari Nagar - Gugan Street 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When buying or selling property, the guideline value helps in establishing the legal framework for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Krishnamachari Nagar - Gugan Street?

The current guideline value of Krishnamachari Nagar - Gugan Street is Rs 3,850 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 650 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 492% since 2007.

What is the stamp duty for property in Krishnamachari Nagar - Gugan Street?

The stamp duty for a property valued at Rs 38,50,000 in Krishnamachari Nagar - Gugan Street would be Rs 2,69,500, calculated at 7% of the guideline value.

Which Sub Registrar Office handles registrations for this street?

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

What is the land classification of Krishnamachari Nagar - Gugan Street?

Krishnamachari Nagar - Gugan Street is classified as Residential Class II Type - I, indicating its suitability for residential development.