Guideline Value for KRISHNA COLONY

Krishna Colony guideline value

The current guideline value of Krishna Colony, located in Thiruninravur-B village, under the Avadi SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Krishna Colony has changed

The guideline value for Krishna Colony has seen several revisions over the years. The earliest recorded revision was in 2017, when the guideline value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Krishna Colony.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value for Krishna Colony.

• Krishna Nagar: Rs 770 per sq.ft (2024)
• Kottai Street: Rs 770 per sq.ft (2024)
• Krishnan Koil St: Rs 770 per sq.ft (2024)
• Krishnapuram 1st Cross St: Rs 1,210 per sq.ft (2024)
• Krishnapuram 1st Main St: Rs 1,210 per sq.ft (2024)
• Krishnapuram 2nd Cross St: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. 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 Krishna Colony?

The Krishna Colony area falls under the jurisdiction of the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor during the registration process when buying or selling property in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated fairly based on the official value of the property.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the state receives the appropriate revenue based on the property's worth, as determined by the guideline value set by the Registration Department.

Frequently asked questions

What is the current guideline value of Krishna Colony?

The current guideline value of Krishna Colony is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Krishna Colony?

The land classification for Krishna Colony is Residential Class II Type - III, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Krishna Colony?

The Sub Registrar Office covering Krishna Colony is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Krishna Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 770 per sq.ft would incur a total fee of Rs 69,300, including stamp duty and registration fees.