Guideline Value for Sri Krishna Avenue

Sri Krishna Avenue guideline value

The current guideline value of Sri Krishna Avenue in Pammathukulam village is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Redhills Sub Registrar Office and is classified as Residential Class III Type - I.

How the guideline value of Sri Krishna Avenue has changed

The guideline value for Sri Krishna Avenue has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, in the 2017 revision, the value decreased to Rs 201 per sq.ft, a decline of 33%. The value then rose to Rs 300 per sq.ft in 2023, followed by a further increase to Rs 330 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. The jumps between revisions indicate fluctuations in the guideline value, with the most significant increase occurring from 2007 to 2012, and a notable increase from 2017 to 2023.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Sri Krishna Avenue's 2024 figure below this median.

• Sri Karpaga Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Sri Kanniamman Nagar: Rs 660 per sq.ft (2024)
• Sri Jai Balaji Nagar Part - II: Rs 385 per sq.ft (2024)
• Sri Hariharan Nagar: Rs 550 per sq.ft (2024)
• Sri Gangai Nagar Extension: Rs 550 per sq.ft (2024)
• Sri Gangai Nagar: Rs 550 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. 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 details.

Which Sub Registrar Office covers Sri Krishna Avenue?

Sri Krishna Avenue is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammathukulam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the higher value between the guideline value and the sale price.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Krishna Avenue?

The current guideline value of Sri Krishna Avenue is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, showing an overall increase of 230% over the years.

What are the other streets in Pammathukulam with their guideline values?

Other streets in Pammathukulam include Sri Karpaga Vinayagar Nagar at Rs 330 per sq.ft, Sri Kanniamman Nagar at Rs 660 per sq.ft, and Sri Jai Balaji Nagar Part - II at Rs 385 per sq.ft, among others.

How is stamp duty calculated for properties in Sri Krishna Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 330 per sq.ft incurs a stamp duty of Rs 23,100.

Where can I find the Sub Registrar Office for Sri Krishna Avenue?

The Redhills Sub Registrar Office covers Sri Krishna Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.