Guideline Value for N.S.Krishnan Street (Soozhulpunal Karai)

N.S.Krishnan Street (Soozhulpunal Karai) guideline value

The current guideline value of N.S.Krishnan Street (Soozhulpunal Karai) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. It is classified as Residential Class IV Type - I.

How the guideline value of N.S.Krishnan Street (Soozhulpunal Karai) has changed

Over the years, the guideline value of N.S.Krishnan Street has seen several revisions. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a total increase of 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. N.S.Krishnan Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• N.S.K. Street: Rs 1,900 per sq.ft (2024)
• N.S.K. Street (Krishnamoorthy Nagar): Rs 1,900 per sq.ft (2024)
• Om Shakthi Vinayagar Koil Street: Rs 2,500 per sq.ft (2024)
• New Lakshmi Amman Nagar: Rs 2,500 per sq.ft (2024)
• Palani Street: Rs 2,200 per sq.ft (2024)
• Nethaji Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.Krishnan Street (Soozhulpunal Karai)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 precise calculations.

Which Sub Registrar Office covers N.S.Krishnan Street (Soozhulpunal Karai)?

The Sub Registrar Office that covers N.S.Krishnan Street 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 Erukancherry

The guideline value serves as a benchmark for property transactions in Erukancherry. When a property is sold, the buyer and seller must register the sale with the Sub Registrar Office, where the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the total cost of property transactions. The guideline value ensures that the state receives fair revenue from property sales, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of N.S.Krishnan Street (Soozhulpunal Karai)?

The current guideline value of N.S.Krishnan Street (Soozhulpunal Karai) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for N.S.Krishnan Street?

The Madhavaram Sub Registrar Office handles property registrations for N.S.Krishnan Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for N.S.Krishnan Street?

N.S.Krishnan Street is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.