Guideline Value for KRISHNABAI STREET

Krishnabai Street guideline value

The current guideline value of Krishnabai Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Krishnabai Street has changed

Since the 2002 revision, the guideline value for Krishnabai Street has seen significant changes. In 2002, the value was Rs 1,533 per sq.ft, which increased to Rs 1,702 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 3,000 per sq.ft in 2007, reflecting a 76% increase. By 2012, the value was Rs 10,000 per sq.ft, showing a substantial 233% increase from the previous revision. However, it then decreased to Rs 6,700 per sq.ft in 2017, a drop of 33%. The value climbed again to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 618%. The register has no figures for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is equal to the guideline value of Krishnabai Street.

• Krishnaiah Street (Krishna Nair Street): Rs 13,200 per sq.ft (2024)
• Krishnamachari Street: Rs 7,700 per sq.ft (2024)
• Krishnan Street: Rs 7,700 per sq.ft (2024)
• Kolamani Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Krishna Street: Rs 14,300 per sq.ft (2024)
• Krishnaswamy Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnabai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total cost of duty and fees Rs 9,90,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnabai Street?

The Sub Registrar Office that covers Krishnabai 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 visit find your SRO.

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

The guideline value is an essential factor when buying or selling property in Tnagar. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. It is important to note that the duty is charged based on the higher of the guideline value or the actual sale price.

When registering a property, buyers should be aware that the guideline value may influence the overall cost of the transaction. It is advisable to check the latest guideline values to ensure accurate calculations of fees and duties.

Frequently asked questions

What is the current guideline value of Krishnabai Street?

The current guideline value of Krishnabai Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,533 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, showing an overall increase of 618% over the years.

What is the classification of land on Krishnabai Street?

Krishnabai Street is classified as Residential Special Type - I under the Thiyagaraya nagar SRO.

Where can I find the Sub Registrar Office for Krishnabai Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 1,10,00,000.