Guideline Value for SreeKrishna 1st Street

SreeKrishna 1st Street guideline value

The current guideline value of SreeKrishna 1st Street in Thiruneermalai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class III Type - I.

How the guideline value of SreeKrishna 1st Street has changed

Looking at the revisions, the guideline value for SreeKrishna 1st Street was Rs 804 per sq.ft in 2017. It increased to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has seen a substantial increase of 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. SreeKrishna 1st Street's 2024 figure is below this median.

• SreeKrishna 2st Street: Rs 1,320 per sq.ft (2024)
• Sreepuram 3rd Cross Street: Rs 3,080 per sq.ft (2024)
• South Mada Street: Rs 2,200 per sq.ft (2024)
• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Sivaraj Street Extn 3rd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in SreeKrishna 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SreeKrishna 1st Street?

The SreeKrishna 1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When registering a property, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This process helps in maintaining a standard valuation across the region, thereby facilitating smoother transactions.

Frequently asked questions

What is the current guideline value of SreeKrishna 1st Street?

The current guideline value of SreeKrishna 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for SreeKrishna 1st Street?

SreeKrishna 1st Street is classified as Residential Class III Type - I.

Which office handles property registrations for SreeKrishna 1st Street?

The Pammal Sub Registrar Office handles property registrations for SreeKrishna 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in SreeKrishna 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.