Guideline Value for Madhavan Nair Cross Street, Krishna Nagar

Madhavan Nair Cross Street, Krishna Nagar guideline value

The current guideline value of Madhavan Nair Cross Street, Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Madhavan Nair Cross Street, Krishna Nagar has changed

The guideline value has undergone several revisions since 2017. The 2017 revision set the guideline value at Rs 1,541 per sq.ft. This figure increased significantly to Rs 2,300 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 further raised the value to Rs 2,530 per sq.ft, which is a 10% increase from the previous year.

There are no registered figures for Madhavan Nair Cross Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Madhavan Nair Cross Street, Krishna Nagar above this median.

• Madhavan Nair Lane / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street, Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Madhavan Nair Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Madhavan Nair Cross Street, Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would amount to Rs 50,600. Together, these fees would total Rs 2,27,700. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madhavan Nair Cross Street, Krishna Nagar?

The Sub Registrar Office that covers Madhavan Nair Cross Street, Krishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Madhavan Nair Cross Street, Krishna Nagar?

The current guideline value of Madhavan Nair Cross Street, Krishna Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,541 per sq.ft to Rs 2,530 per sq.ft, which is an overall increase of 64% over the years.

What were the guideline values in the previous revisions?

The guideline values for previous revisions are as follows: Rs 1,541 per sq.ft in 2017, Rs 2,300 per sq.ft in 2023, and Rs 2,530 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

How is stamp duty calculated for properties in Madhavan Nair Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 1,77,100.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Madhavan Nair Cross Street, Krishna Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can also visit find your SRO for more information.