Guideline Value for Krishnamenan Street

Krishnamenan Street guideline value

The current guideline value of Krishnamenan Street in Oragadam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Krishnamenan Street has changed

The guideline value for Krishnamenan Street has seen several revisions over the years. In 2002, the value was set at Rs 166 per sq.ft. This increased to Rs 179 per sq.ft in 2003, marking an 8% rise. Following this, the value saw significant growth, reaching Rs 500 per sq.ft in 2007, which was a 179% increase from the previous year. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase from 2007. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%.

In the latest revisions, the value increased to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,600 per sq.ft in 2024, which is a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 864%. The register has no figures for the years not mentioned in this summary.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Krishnamenan Street is below this median.

• Krishanamachari Street: Rs 1,600 per sq.ft (2024)
• Koil Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Koil Cross Street: Rs 1,800 per sq.ft (2024)
• Kulakkarai Street: Rs 1,600 per sq.ft (2024)
• Kumaran Cross Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamenan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnamenan Street?

The Sub Registrar Office that covers Krishnamenan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnamenan Street?

The current guideline value of Krishnamenan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 166 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 864% over the years.

What are the other streets in Oragadam with similar guideline values?

Other streets in Oragadam include Krishanamachari Street and Kulakkarai Street, both valued at Rs 1,600 per sq.ft, while Koil Street and Koil Cross Street are valued at Rs 1,800 per sq.ft.

What is the stamp duty rate for properties in Krishnamenan Street?

The stamp duty rate for properties in Krishnamenan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Krishnamenan Street?

The Sub Registrar Office for Krishnamenan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.