Guideline Value for Krishnappa Naicken Agraharam Street

Krishnappa Naicken Agraharam Street guideline value

The current guideline value of Krishnappa Naicken Agraharam Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Special Type - III.

How the guideline value of Krishnappa Naicken Agraharam Street has changed

The guideline value for Krishnappa Naicken Agraharam Street has seen several revisions over the years. Starting from Rs 1,265 per sq.ft in 2003, it increased to Rs 1,600 per sq.ft in 2007, marking a rise of 26%. In 2012, the value was revised to Rs 4,500 per sq.ft, which was an increase of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and most recently, it reached Rs 4,900 per sq.ft in 2024, showing a change of 9% from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2003 to 2024, the guideline value has increased by 287%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Krishnappa Naicken Agraharam Street is above this median.

• Krishnappa Naicken Tank Street: Rs 4,400 per sq.ft (2024)
• Krishnappa Maistry Street: Rs 4,400 per sq.ft (2024)
• Krishna Aiyer Street: Rs 6,000 per sq.ft (2024)
• Kulandhai Street: Rs 6,000 per sq.ft (2024)
• Korsa Sahib Street: Rs 4,400 per sq.ft (2024)
• Korsa Sahib Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnappa Naicken Agraharam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnappa Naicken Agraharam Street?

The Sub Registrar Office that covers Krishnappa Naicken Agraharam Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Muthiyalpet as it determines the minimum value 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 guideline value is used to calculate applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Krishnappa Naicken Agraharam Street?

The current guideline value of Krishnappa Naicken Agraharam Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,265 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 287% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 49,00,000, the total fees would amount to Rs 4,41,000.

Which Sub Registrar Office covers this street?

The Sowcarpet Sub Registrar Office covers Krishnappa Naicken Agraharam Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification for Krishnappa Naicken Agraharam Street?

Krishnappa Naicken Agraharam Street is classified as Residential Special Type - III.