Guideline Value for Krishtappa Street

Krishtappa Street guideline value

The current guideline value of Krishtappa Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Krishtappa Street has changed

Over the years, the guideline value of Krishtappa Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then rose again to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for Krishtappa Street for the years 2002, 2003, and 2007.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Krishtappa Street's 2024 figure above this median.

• Kulakkarai Street: Rs 805 per sq.ft (2024)
• Krishna Murthi Street: Rs 880 per sq.ft (2024)
• Koil Pathagai Main Road: Rs 1,300 per sq.ft (2024)
• Kuppammal Street: Rs 880 per sq.ft (2024)
• Lakeview Street: Rs 880 per sq.ft (2024)
• Kirupa Nagar Extn.: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Krishtappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that 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 information on calculating these fees.

Which Sub Registrar Office covers Krishtappa Street?

The Sub Registrar Office that covers Krishtappa Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishtappa Street?

The current guideline value of Krishtappa Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value for streets in Kovilpathagai?

The median guideline value for streets in Kovilpathagai is Rs 870 per sq.ft, with Krishtappa Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Krishtappa Street?

The stamp duty for a property valued at Rs 8,80,000 would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Krishtappa Street?

The Ambattur Sub Registrar Office handles registrations for Krishtappa Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.