Guideline Value for President Krishnan Street

President Krishnan Street guideline value

The current guideline value of President Krishnan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of President Krishnan Street has changed

The guideline value for President Krishnan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,700 per sq.ft, positioning President Krishnan Street's 2024 figure below this median.

• Prakash Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Public Well Street: Rs 2,200 per sq.ft (2024)
• Prakasam Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in President Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total cost to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers President Krishnan Street?

The Sub Registrar Office that covers President Krishnan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the correct amounts are paid based on the property's assessed value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of President Krishnan Street?

The current guideline value of President Krishnan Street 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 2,200 per sq.ft in 2024, reflecting a 10% increase. There were no figures available for the revisions in 2002, 2003, 2007, and 2017.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, with President Krishnan Street's 2024 figure being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.