Guideline Value for Sri Krishna Avenue

Sri Krishna Avenue guideline value

The current guideline value of Sri Krishna Avenue, located in Ambattur village under the Ambattur SRO, is Rs 4,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Krishna Avenue has changed

The guideline value for Sri Krishna Avenue has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 3,700 per sq.ft. This value saw a decrease to Rs 2,479 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 3,700 per sq.ft in 2023, and further rose to Rs 4,000 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, and Sri Krishna Avenue's 2024 figure is above this median.

• Sri Ramalu naidu Street: Rs 4,000 per sq.ft (2024)
• South park Street: Rs 6,600 per sq.ft (2024)
• Solampedu Road: Rs 6,600 per sq.ft (2024)
• Sri Venkataramullu Naidu Street: Rs 4,000 per sq.ft (2024)
• Sivanantham Nagar Pillaiyarkoil Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar Erikkarai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total fees to Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Krishna Avenue?

The Sub Registrar Office that covers Sri Krishna Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Ambattur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for legal documentation and can influence negotiations between parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Krishna Avenue?

The current guideline value of Sri Krishna Avenue is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then increased to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What is the land classification for Sri Krishna Avenue?

Sri Krishna Avenue is classified as Residential Special Type - II.

What is the stamp duty rate for properties in Sri Krishna Avenue?

The stamp duty rate for properties in Sri Krishna Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Krishna Avenue located?

The Sub Registrar Office for Sri Krishna Avenue is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.