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Guideline Value

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Guideline Value for SHRI KRISHNA NAGAR 2nd Cross Street

₹3850/sq.ft.

The guideline value for Shri Krishna Nagar 2nd Cross Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Shri Krishna Nagar 2nd Cross Street

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SHRI KRISHNA NAGAR 2nd Cross Street guideline value

The current guideline value of SHRI KRISHNA NAGAR 2nd Cross 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 2nd Cross Street has changed

Over the years, the guideline value of SHRI KRISHNA NAGAR 2nd Cross Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 700 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,500 per sq.ft, followed by a further increase to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

In total, from 2007 to 2024, the guideline value has increased by 450%. The revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value range from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing SHRI KRISHNA NAGAR 2nd Cross Street above this median.

Stamp duty and registration fee for property in SHRI KRISHNA NAGAR 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers SHRI KRISHNA NAGAR 2nd Cross Street?

The SHRI KRISHNA NAGAR 2nd Cross Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. This ensures transparency and compliance with the legal requirements during the property transaction process.

Frequently asked questions

What is the current guideline value of SHRI KRISHNA NAGAR 2nd Cross Street?

The current guideline value of SHRI KRISHNA NAGAR 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 3,850 per sq.ft in 2024, marking a total increase of 450% over the years.

What are the other streets in Maduravoyal with the same guideline value?

Several other streets in Maduravoyal also have a guideline value of Rs 3,850 per sq.ft for 2024, including SHRI KRISHNA NAGAR 28th Street, SHRI KRISHNA NAGAR 2nd Main Road, SHRI KRISHNA NAGAR 27th Street, SHRI KRISHNA NAGAR 2nd Street, SHRI KRISHNA NAGAR 26th Street, and SHRI KRISHNA NAGAR 3rd Cross Street.

What is the role of the Virugambakkam SRO?

The Virugambakkam SRO is responsible for maintaining the guideline values and overseeing the registration of property transactions in the area, ensuring compliance with legal requirements.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same value. This ensures that the fees reflect the true value of the property being registered.