Guideline Value for Sri Krishna Avenue

Sri Krishna Avenue guideline value

The current guideline value of Sri Krishna Avenue is Rs 1,004 per sq.ft, effective from 1 July 2024. This street is located in Vadaperumbakkam village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Krishna Avenue has changed

Over the years, the guideline value of Sri Krishna Avenue has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, but then decreased to Rs 402 per sq.ft in 2017. The value rose again to Rs 600 per sq.ft in 2023 before reaching the current figure of Rs 1,004 per sq.ft in 2024, marking a 67% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the current 2024 revision reflects a substantial increase of 235%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Sri Krishna Avenue's 2024 figure slightly above this median.

• Sri Perumal Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sabhari Nagar: Rs 1,004 per sq.ft (2024)
• Sri Srinivasa Modern Town: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex-II: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex IV: Rs 1,006 per sq.ft (2024)
• Sri Vetri Nagar Extention: Rs 1,004 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 1,004 per sq.ft, the total guideline value would be Rs 10,04,000. The stamp duty at 7% would amount to Rs 70,280, and the registration fee at 2% would be Rs 20,080, bringing the total charges to Rs 90,360. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri Krishna Avenue?

The Sub Registrar Office that covers Sri Krishna Avenue is 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vadaperumbakkam. It is used to determine the stamp duty and registration fees, which are calculated based on this value. Buyers must ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is often referenced to establish the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Krishna Avenue?

The current guideline value of Sri Krishna Avenue is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,004 per sq.ft in 2024, reflecting an overall increase of 235% over the years.

What is the land classification of Sri Krishna Avenue?

Sri Krishna Avenue is classified as Residential Class II Type - I.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 90,360.