Guideline Value for Krishnamoorthy Nagar 1st Street

Krishnamoorthy Nagar 1st Street guideline value

The current guideline value for Krishnamoorthy Nagar 1st Street is Rs 3,250 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Krishnamoorthy Nagar 1st Street has changed

Since the 2012 revision, the guideline value for Krishnamoorthy Nagar 1st Street has seen various changes. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,250 per sq.ft, an increase of 8% from the previous year’s Rs 3,000 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Krishnamoorthy Nagar 1st Street above this median at Rs 3,250 per sq.ft.

• Krishnamoorthy Nagar 2nd Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 3th Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 4th Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Salai: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Street: Rs 3,250 per sq.ft (2024)
• Kulasekarandasan Street / Kulasekaran Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamoorthy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total cost for these fees to Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamoorthy Nagar 1st Street?

The Sub Registrar Office covering Krishnamoorthy Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value to ensure compliance with local regulations and to accurately estimate the costs involved in the registration process.

Frequently asked questions

What is the current guideline value for Krishnamoorthy Nagar 1st Street?

The current guideline value for Krishnamoorthy Nagar 1st Street is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,250 per sq.ft in 2024.

What is the land classification for Krishnamoorthy Nagar 1st Street?

The land classification for Krishnamoorthy Nagar 1st Street is Residential Special Type - I.

Where can I find the registration office for Krishnamoorthy Nagar 1st Street?

The registration office for Krishnamoorthy Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value for streets in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, with Krishnamoorthy Nagar 1st Street being above this median at Rs 3,250 per sq.ft.