Guideline Value for Krishnappan St (Ward-02)

Krishnappan St (Ward-02) guideline value

The current guideline value of Krishnappan St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Krishnappan St (Ward-02) has changed

The guideline value for Krishnappan St (Ward-02) has seen several revisions over the years. The 2017 revision set the guideline value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 1,600 per sq.ft, placing Krishnappan St (Ward-02) below this median.

• Krishnappan st (Ward No.1): Rs 1,300 per sq.ft (2024)
• Krishna Nagar (Ward No.8): Rs 2,200 per sq.ft (2024)
• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Roads (Ward No.3): Rs 2,200 per sq.ft (2024)
• Krishna Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnappan St (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishnappan St (Ward-02)?

The Sub Registrar Office that covers Krishnappan St (Ward-02) 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 Madhavaram

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction adheres to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Krishnappan St (Ward-02)?

The current guideline value of Krishnappan St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 62% from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024. The most recent change was an 8% increase from Rs 1,200 per sq.ft in 2023.

What is the classification of land in Krishnappan St (Ward-02)?

Krishnappan St (Ward-02) is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the registration fees for properties in Madhavaram?

The registration fees are calculated based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total registration fees would be Rs 1,17,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can visit this office for any registration-related queries.