Guideline Value for KRISHNAMURTHY STREET

Krishnamurthy Street guideline value

The current guideline value of Krishnamurthy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - I.

How the guideline value of Krishnamurthy Street has changed

Over the years, the guideline value of Krishnamurthy Street has seen significant changes. In 2007, the guideline value was Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 shows a further increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Krishnamurthy Street's 2024 figure below this median.

• Kolaperumal School Street: Rs 7,100 per sq.ft (2024)
• Kulakarai Lane: Rs 3,300 per sq.ft (2024)
• Kulathankarai Street: Rs 3,300 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnamurthy Street?

The Sub Registrar Office that covers Krishnamurthy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It is the benchmark value set by the government for property transactions, which helps determine the stamp duty and registration fees applicable during the sale.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value. Buyers and sellers must be aware of the guideline value to accurately calculate the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Krishnamurthy Street?

The current guideline value of Krishnamurthy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Krishnamurthy Street?

The land classification for Krishnamurthy Street is Residential Class V Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Krishnamurthy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.