Guideline Value for KRISHNAN COLONY

Krishnan Colony guideline value

The current guideline value of Krishnan Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Krishnan Colony has changed

The guideline value for Krishnan Colony has seen several revisions over the years. In 2002, the value was Rs 594 per sq.ft, which increased to Rs 653 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, marking a 130% increase. The next revision in 2012 saw a decrease to Rs 4,900 per sq.ft, a drop of 33%. However, the value rebounded to Rs 3,283 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 4,900 per sq.ft, which then increased to Rs 5,300 per sq.ft in 2024, an 8% rise.

Overall, from 2002 to 2024, the guideline value has increased by 792%. There are no revision figures for any other years for this street in the register.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Krishnan Colony's 2024 figure below this median.

• Krishnapuram: Rs 5,300 per sq.ft (2024)
• Kulakkarai Street: Rs 7,100 per sq.ft (2024)
• Ko. Su. Mani Road: Rs 5,000 per sq.ft (2024)
• Kirupha Sankari Street: Rs 6,300 per sq.ft (2024)
• Khan Street: Rs 6,300 per sq.ft (2024)
• K.A. Thangavel Colony: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total cost for these fees to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnan Colony?

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

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

The guideline value plays a crucial role in property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which property can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate stamp duty and registration fees.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value as it directly impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Krishnan Colony?

The current guideline value of Krishnan Colony is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 594 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, marking an overall increase of 792%.

What is the land classification of Krishnan Colony?

Krishnan Colony falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Krishnan Colony?

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

How is the stamp duty calculated for property in Krishnan Colony?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% is applicable.