Guideline Value for Krishnamachari Nagar - Velmurugan Street

Krishnamachari Nagar - Velmurugan Street guideline value

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

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

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

Notably, there were no figures recorded for this street in the 2017, 2003, and 2002 revisions. Overall, from 2007 to 2024, the guideline value has increased by 492%, reflecting substantial changes over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current value of Krishnamachari Nagar - Velmurugan Street.

• Krishnamachari Nagar - Gugan 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 - Velmurugan 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, leading to a total of Rs 3,46,500. It is important to 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 more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Krishnamachari Nagar - Velmurugan Street?

The Sub Registrar Office that covers Krishnamachari Nagar - Velmurugan 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 Valasaravakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at an appropriate value, reflecting the current market conditions as per the official register.

Frequently asked questions

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

The current guideline value of Krishnamachari Nagar - Velmurugan 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 from Rs 650 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 492% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office is responsible for this street?

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

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

The land classification for Krishnamachari Nagar - Velmurugan Street is Residential Class II Type - I.