Guideline Value for Krishnamoorthy Salai

Krishnamoorthy Salai guideline value

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

How the guideline value of Krishnamoorthy Salai has changed

Over the years, the guideline value for Krishnamoorthy Salai has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 3,000 per sq.ft in 2023, and the most recent 2024 revision has set it at Rs 3,250 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, followed by an 8% rise from 2023 to 2024. 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 that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Krishnamoorthy Salai is above this median.

• Krishnamoorthy Nagar 4th Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 3th Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 2nd Street: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 1st 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 Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value would be Rs 32,50,000. The stamp duty at 7% would amount to Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total to Rs 2,92,500. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamoorthy Salai?

The Sub Registrar Office that covers Krishnamoorthy Salai 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 plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Krishnamoorthy Salai?

The current guideline value of Krishnamoorthy Salai 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 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 of Krishnamoorthy Salai?

Krishnamoorthy Salai is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Krishnamoorthy Salai?

The Madhavaram Sub Registrar Office covers Krishnamoorthy Salai and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Krishnamoorthy Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 32,50,000, the stamp duty at 7% would be Rs 2,27,500.