Guideline Value for Krishnappan st ( Ward No.1 )

Krishnappan st ( Ward No.1 ) guideline value

The current guideline value of Krishnappan st ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Krishnappan st ( Ward No.1 ) has changed

The guideline value for Krishnappan st ( Ward No.1 ) has seen revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to 2023, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2024 revision reflects the most current valuation, while the previous figure from 2023 was Rs 1,200 per sq.ft. The historical revisions for the years without figures indicate that no data is available for those years regarding the guideline value 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 of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Krishnappan st ( Ward No.1 ) below that median.

• Krishnappan St (Ward-02): 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 No.1 )

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 is calculated at 7%, resulting in Rs 91,000, while the registration fee at 2% amounts to Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. 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 on calculating fees for property transactions.

Which Sub Registrar Office covers Krishnappan st ( Ward No.1 )?

The Sub Registrar Office that covers Krishnappan st ( Ward No.1 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone. 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 in property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration of property sales. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When registering a property, the guideline value helps in assessing the taxes owed, which are calculated based on this value or the sale price, whichever is higher. Understanding the guideline value is essential for both buyers and sellers to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Krishnappan st ( Ward No.1 )?

The current guideline value of Krishnappan st ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, which is an increase of 8%.

What is the land classification for Krishnappan st ( Ward No.1 )?

Krishnappan st ( Ward No.1 ) falls under the Residential Class III Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at the rate of 7%.