Guideline Value for Krishnamachari Salai

Krishnamachari Salai guideline value

The current guideline value of Krishnamachari Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Krishnamachari Salai has changed

Over the years, the guideline value for Krishnamachari Salai has seen several revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,500 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 3,500 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

In summary, from 2012 to 2024, the overall change in the guideline value has been an increase of 10%. This reflects the transition from Rs 3,500 per sq.ft in 2012 to the current Rs 3,850 per sq.ft in 2024.

Guideline values in Valasaravakkam

Valasaravakkam has a total of 774 streets under the Virugambakkam SRO, with guideline values 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 matches the current value for Krishnamachari Salai.

• Krishnamachari Nagar - Velmurugan Street: Rs 3,850 per sq.ft (2024)
• Krishnamachari Nagar - Gugan Street: 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 Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to 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.

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

Which Sub Registrar Office covers Krishnamachari Salai?

The Krishnamachari Salai area falls under 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 property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Krishnamachari Salai?

The current guideline value of Krishnamachari Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Krishnamachari Salai has increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase over this period.

What is the land classification for Krishnamachari Salai?

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

Where can I find the Virugambakkam Sub Registrar Office?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Krishnamachari Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 2,69,500.