Guideline Value for KRISHNAMACHARI STREET

Krishnamachari Street guideline value

The current guideline value of Krishnamachari Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Krishnamachari Street has changed

The guideline value for Krishnamachari Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, which is an increase from Rs 7,000 per sq.ft in the 2023 revision, reflecting a 10% rise. Prior to that, the 2017 revision listed the value at Rs 4,690 per sq.ft, marking a substantial increase of 49% from the previous 2023 figure. The 2012 revision had set the value at Rs 7,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Tnagar

In Tnagar village, 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, indicating that the guideline value for Krishnamachari Street is below this median.

• Krishnaiah Street (Krishna Nair Street): Rs 13,200 per sq.ft (2024)
• Krishnabai Street: Rs 11,000 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 Krishnamachari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnamachari Street?

The Sub Registrar Office that covers Krishnamachari 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 crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per government standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the agreed sale price, which can significantly affect the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Krishnamachari Street?

The current guideline value of Krishnamachari Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. It was Rs 4,690 per sq.ft in 2017 and Rs 7,000 per sq.ft in 2012.

What is the land classification of Krishnamachari Street?

Krishnamachari Street falls under the Residential Class II Type - II land classification.

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

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

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be calculated on Rs 77,00,000 for a 1,000 sq.ft plot.