Guideline Value for Krishnamoorthy Street

Krishnamoorthy Street guideline value

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

How the guideline value of Krishnamoorthy Street has changed

The guideline value for Krishnamoorthy Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,250 per sq.ft in 2024. The changes between these revisions are notable: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding Krishnamoorthy Street. The revisions that do have figures show a clear trajectory of changes in the guideline value over time.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making the guideline value of Krishnamoorthy Street above this median.

• Krishnamoorthy Salai: Rs 3,250 per sq.ft (2024)
• Krishnamoorthy Nagar 4th 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 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, charged at 7%, would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000. Together, these fees would total Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Krishnamoorthy Street?

The Sub Registrar Office that covers Krishnamoorthy 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 the basis for calculating stamp duty and registration fees, which are essential costs that need to be considered during a transaction.

Frequently asked questions

What is the current guideline value of Krishnamoorthy Street?

The current guideline value of Krishnamoorthy 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 increased 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 Street?

Krishnamoorthy Street is classified as Residential Special Type - I.

Where can I find the registration office for properties in Erukancherry?

The registration office for properties in Erukancherry is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties on Krishnamoorthy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,92,500.