Guideline Value for KRISHNAMURTHY STREET

Krishnamurthy Street guideline value

The current guideline value of Krishnamurthy Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Krishnamurthy Street has changed

The guideline value for Krishnamurthy Street has undergone several revisions over the years. In 2002, the value was Rs 697 per sq.ft, which increased to Rs 773 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a +29% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, showing a remarkable +300% change. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of -33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, and the current guideline value is Rs 4,400 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 +531%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, and Krishnamurthy Street's 2024 figure is below that median.

• Kothandaraman Koil Street (South): Rs 6,600 per sq.ft (2024)
• Kothandaraman Koil Street: Rs 6,600 per sq.ft (2024)
• KODAMBAKKAM ROAD (Western Side Door No 115 to 94 Eastern Side D.Nos 10 to 35): Rs 9,900 per sq.ft (2024)
• Kumaran Colony 1 St Street: Rs 7,700 per sq.ft (2024)
• Kumaran Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Kuppiah Chetty Street: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamurthy Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Stamp 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 Krishnamurthy Street?

The Sub Registrar Office that covers Krishnamurthy 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 Mambalam

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official documents.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnamurthy Street?

The current guideline value of Krishnamurthy Street is Rs 4,400 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 697 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +531% over this period.

What is the stamp duty rate for properties in Krishnamurthy Street?

The stamp duty rate for properties in Krishnamurthy Street is 7% of the guideline value or the sale price, whichever is higher.

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

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

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

Other streets in Mambalam include Kothandaraman Koil Street (South) and Kothandaraman Koil Street, both at Rs 6,600 per sq.ft, KODAMBAKKAM ROAD at Rs 9,900 per sq.ft, Kumaran Colony 1 St Street and Kumaran Colony 2nd Street at Rs 7,700 per sq.ft, and Kuppiah Chetty Street at Rs 12,100 per sq.ft.