Guideline Value for KRISHNA STREET

Krishna Street guideline value

The current guideline value of Krishna Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Krishna Street has changed

The guideline value for Krishna Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,467 per sq.ft. This increased to Rs 1,900 per sq.ft in 2003, representing a change of +30%. By 2007, the value rose significantly to Rs 3,000 per sq.ft, marking a +58% increase. The 2012 revision saw the value rise to Rs 13,000 per sq.ft, a substantial increase of +333%. However, from 2017 to 2023, the value dropped to Rs 8,710 per sq.ft, reflecting a decrease of -33%. The most recent revision in 2024 has set the value at Rs 14,300 per sq.ft, an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +875%. Notably, there are no figures for the revisions in the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Krishna Street's 2024 figure above this median.

• Krishnaswamy Road: Rs 11,000 per sq.ft (2024)
• Krishnan Street: Rs 7,700 per sq.ft (2024)
• Krishnamachari Street: Rs 7,700 per sq.ft (2024)
• Krishnaiah Street (Krishna Nair Street): Rs 13,200 per sq.ft (2024)
• Krishnabai Street: Rs 11,000 per sq.ft (2024)
• Kolamani Amman Koil Street: Rs 6,600 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 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office that covers Krishna Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can click here.

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

The guideline value plays a crucial role in property transactions in Tnagar. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that the guideline value can significantly influence the overall cost of property transactions.

When you buy or sell property, the guideline value is assessed to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings, ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,467 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, showing an overall increase of +875% over the years.

What is the land classification of Krishna Street?

Krishna Street is classified as Mixed Special Type - I.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Krishna Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at 7%.