Guideline Value for Srinivasan Street (Krishnamoorthy Nagar)

Srinivasan Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Srinivasan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO with a land classification of Residential Class I Type - I.

How the guideline value of Srinivasan Street (Krishnamoorthy Nagar) has changed

Over the years, the guideline value for Srinivasan Street has undergone several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, the latest revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The 2012 to 2017 period saw a decrease of 33% in the guideline value, reflecting the fluctuations in property values during that time.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values for 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Srinivasan Street.

• Srinivasan Street: Rs 2,700 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Srinivasapuram: Rs 2,700 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,700 per sq.ft (2024)
• Srinivasa 2nd Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa 1st Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Srinivasan Street (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the government receives the appropriate revenue from property transactions. It is essential for buyers and sellers to understand this value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasan Street (Krishnamoorthy Nagar)?

The current guideline value of Srinivasan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,43,000. This includes a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Srinivasan Street (Krishnamoorthy Nagar) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Srinivasan Street?

Srinivasan Street (Krishnamoorthy Nagar) is classified as Residential Class I Type - I, indicating its designation for residential purposes.