Guideline Value for KRISHNAMA CHETTY STREET

Krishnama Chetty Street guideline value

The current guideline value of Krishnama Chetty Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village under the Thiruttani SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Krishnama Chetty Street has changed

The guideline value for Krishnama Chetty Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 502 per sq.ft. This was followed by the 2023 revision, where the value increased to Rs 750 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 825 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value among these streets is Rs 825 per sq.ft, which is equal to the guideline value for Krishnama Chetty Street.

• Kumara Arunthathjiar Colony: Rs 550 per sq.ft (2024)
• Kumarakupamcolony: Rs 550 per sq.ft (2024)
• Kumara Kuppam 1st Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 2nd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 3rd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 4th Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnama Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost to Rs 74,250. 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 Krishnama Chetty Street?

The Sub Registrar Office that covers Krishnama Chetty Street is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Tiruttani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property transaction. It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Krishnama Chetty Street?

The current guideline value of Krishnama Chetty Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Krishnama Chetty Street?

The Thiruttani Sub Registrar Office handles property registrations for Krishnama Chetty Street, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and helps in calculating the stamp duty and registration fees. It ensures that property transactions are conducted at a fair value, benefiting both the state and the parties involved.