Guideline Value for Shri Kishanlal Avenue

Shri Kishanlal Avenue guideline value

The current guideline value of Shri Kishanlal Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village, under the Padappai SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Shri Kishanlal Avenue has changed

The guideline value for Shri Kishanlal Avenue has seen 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 represented a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,000 per sq.ft, marking an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, making the guideline value of Shri Kishanlal Avenue above this median.

• Shobha Queens Land: Rs 2,960 per sq.ft (2024)
• Shobha Castle Phase - I - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shobha Castle Phase - II - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Shoba Empire: Rs 2,630 per sq.ft (2024)
• Silvermist Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Kishanlal Avenue

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. Together, the total cost for stamp duty and registration would be 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri Kishanlal Avenue?

The Sub Registrar Office covering Shri Kishanlal Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shri Kishanlal Avenue?

The current guideline value of Shri Kishanlal Avenue 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 Shri Kishanlal Avenue?

The land classification for Shri Kishanlal Avenue is Commercial Class I Type - I.

Where can I find the registration office for Shri Kishanlal Avenue?

The registration office for Shri Kishanlal Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Varadarajapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.