Guideline Value for Madhavan Nair Street, Krishna Nagar

Madhavan Nair Street, Krishna Nagar guideline value

The current guideline value of Madhavan Nair 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 it falls under the Residential Class I Type - I land classification.

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

The guideline value for Madhavan Nair Street has seen several revisions over the years. The oldest available revision is from 2017, where the guideline value was Rs 1,541 per sq.ft. This increased to Rs 2,300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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, with a median value of Rs 2,090 per sq.ft. The guideline value of Madhavan Nair Street, Krishna Nagar is above this median.

• Madhavan Nair Lane / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Cross Street, Krishna Nagar: Rs 2,530 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 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 amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total cost for these fees Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office covering Madhavan Nair Street, Krishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering a property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value helps in establishing a fair assessment of the property's worth for taxation purposes. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,541 per sq.ft to Rs 2,530 per sq.ft in 2024, marking an overall increase of 64%. The most recent increase from 2023 to 2024 was 10%.

What is the land classification for Madhavan Nair Street?

Madhavan Nair Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,27,700 in fees based on the current guideline value.

Which office handles the registration for Madhavan Nair Street?

The Pammal Sub Registrar Office is responsible for handling registrations for properties on Madhavan Nair Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.