Guideline Value for KRISHNAIAH STREET (KRISHNA NAIR STREET)

Krishnaiah Street (Krishna Nair Street) guideline value

The current guideline value of Krishnaiah Street (Krishna Nair Street) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, with a land classification of Mixed Special Type - II.

How the guideline value of Krishnaiah Street (Krishna Nair Street) has changed

The guideline value for Krishnaiah Street has seen significant changes over the years. In 2003, the value was Rs 1,467 per sq.ft. This increased to Rs 3,000 per sq.ft in 2007, marking a substantial rise of 104%. The value then surged to Rs 12,000 per sq.ft in 2012, a remarkable increase of 300%. However, it dropped to Rs 8,040 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, followed by a further increase to Rs 13,200 per sq.ft in 2024, which is a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 800%. It is important to note that there are no figures available for the year 2002 for this street.

Guideline values in Tnagar

Tnagar village has a total of 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Krishnaiah Street's 2024 figure above this median.

• Krishnabai Street: Rs 11,000 per sq.ft (2024)
• Krishnamachari Street: Rs 7,700 per sq.ft (2024)
• Krishnan Street: Rs 7,700 per sq.ft (2024)
• Krishna Street: Rs 14,300 per sq.ft (2024)
• Krishnaswamy Road: 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 Krishnaiah Street (Krishna Nair Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that 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 Krishnaiah Street (Krishna Nair Street)?

The Sub Registrar Office that covers Krishnaiah Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the correct amount of revenue from the sale.

Frequently asked questions

What is the current guideline value of Krishnaiah Street?

The current guideline value of Krishnaiah Street (Krishna Nair Street) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,467 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, showing an overall increase of 800% over this period.

What are the other streets in Tnagar with their guideline values?

Other streets in Tnagar include Krishnabai Street at Rs 11,000 per sq.ft, Krishnamachari Street and Krishnan Street at Rs 7,700 per sq.ft, Krishna Street at Rs 14,300 per sq.ft, Krishnaswamy Road at Rs 11,000 per sq.ft, and Kolamani Amman Koil Street at Rs 6,600 per sq.ft.

What fees are applicable when registering property in Krishnaiah Street?

The fees applicable include stamp duty at 7% and registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the total fees would amount to Rs 11,88,000.

Where is the Sub Registrar Office for Krishnaiah Street located?

The Sub Registrar Office for Krishnaiah Street is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35, under the Thiyagaraya nagar SRO.