Guideline Value for KRISHNA STREET

Krishna Street guideline value

The current guideline value of Krishna Street in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishna Street has changed

The guideline value for Krishna Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it increased to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, positioning Krishna Street's 2024 figure above this median.

• Krishnan Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Kumaraguruparar Street: Rs 2,200 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street Veera Anjaneyar Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total costs together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office that covers Krishna Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that both buyers and sellers are aware of the value assigned to the property by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 2,750 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, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Krishna Street?

Krishna Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Krishna Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs can amount to Rs 2,47,500.

Which Sub Registrar Office covers Krishna Street?

The Chennai South Joint I Sub Registrar Office covers Krishna Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.