Guideline Value for SHRI KRISHNA NAGAR 14th Street

SHRI KRISHNA NAGAR 14th Street guideline value

The current guideline value of SHRI KRISHNA NAGAR 14th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of SHRI KRISHNA NAGAR 14th Street has changed

Over the years, the guideline value of SHRI KRISHNA NAGAR 14th Street has seen significant changes. The earliest recorded revision in 2007 set the guideline value at Rs 700 per sq.ft. This figure increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The most significant jump occurred between 2017 and 2023, where the value rose by 49% to reach Rs 3,500 per sq.ft. The current value of Rs 3,850 per sq.ft is now above the median guideline value of Rs 3,050 per sq.ft for the 636 streets in Maduravoyal under the Virugambakkam SRO.

Guideline values in Maduravoyal

In Maduravoyal, the guideline values for 2024 range from Rs 2,200 to Rs 6,050 per sq.ft. SHRI KRISHNA NAGAR 14th Street's current value of Rs 3,850 per sq.ft is above the median value of Rs 3,050 per sq.ft. Below are some other streets in Maduravoyal:

• SHRI KRISHNA NAGAR 13th Street: Rs 3,850 per sq.ft (2024)
• SHRI KRISHNA NAGAR 15th Street: Rs 3,850 per sq.ft (2024)
• SHRI KRISHNA NAGAR 12th Street: Rs 3,850 per sq.ft (2024)
• SHRI KRISHNA NAGAR 16th Street: Rs 3,850 per sq.ft (2024)
• SHRI KRISHNA NAGAR 11th Street: Rs 3,850 per sq.ft (2024)
• SHRI KRISHNA NAGAR 17th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in SHRI KRISHNA NAGAR 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. 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 details.

Which Sub Registrar Office covers SHRI KRISHNA NAGAR 14th Street?

The Sub Registrar Office that covers SHRI KRISHNA NAGAR 14th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Maduravoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used to assess the minimum value for property transactions, ensuring that the government receives appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration process requires that the property be valued at the guideline value or the sale price, whichever is higher, which can impact the total expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of SHRI KRISHNA NAGAR 14th Street?

The current guideline value of SHRI KRISHNA NAGAR 14th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for SHRI KRISHNA NAGAR 14th Street?

The Virugambakkam Sub Registrar Office handles property registrations for SHRI KRISHNA NAGAR 14th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined in Maduravoyal?

The guideline value in Maduravoyal is determined by the government and is based on various factors, including land classification and location. It is used to assess the minimum value for property transactions in the area.