Guideline Value for RIVERVIEW COLONY KRISHNA STREET

Riverview Colony Krishna Street guideline value

The current guideline value of Riverview Colony Krishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Riverview Colony Krishna Street has changed

The guideline value for Riverview Colony Krishna Street has undergone several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 49%. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, placing the 2024 figure for Riverview Colony Krishna Street above this median.

• Riverview Colony Kothavari Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Link Road: Rs 3,300 per sq.ft (2024)
• Riverview Colony Ganga Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Narmatha Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Deesta Street: Rs 3,300 per sq.ft (2024)
• Riverview Colony Park Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Riverview Colony Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Riverview Colony Krishna Street?

The Sub Registrar Office that covers Riverview Colony Krishna Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Riverview Colony Krishna Street?

The current guideline value of Riverview Colony Krishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Riverview Colony Krishna Street?

The land classification for Riverview Colony Krishna Street is Residential Class I Type - I.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Riverview Colony Krishna Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Riverview Colony Krishna Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.