Guideline Value for KRISHNAN STREET / KRISHNAN KOIL STREET

Krishnan Street / Krishnan Koil Street guideline value

The current guideline value for Krishnan Street / Krishnan Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Krishnan Street / Krishnan Koil Street has changed

The guideline value for Krishnan Street / Krishnan Koil Street has seen significant changes over the years. In 2002, the guideline value was Rs 157 per sq.ft. This increased to Rs 182 per sq.ft in 2003, marking a rise of 16%. The value then saw a substantial increase of 175% to reach Rs 500 per sq.ft in 2007. Following this, the value rose sharply by 140% to Rs 1,200 per sq.ft in 2012. However, it experienced a decline of 33% to Rs 804 per sq.ft in 2017. The value then increased by 49% to Rs 1,200 per sq.ft in 2023, and it has now risen by 8% to the current value of Rs 1,300 per sq.ft in 2024.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 reflects a significant increase of 728% in the guideline value.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Krishnan Street / Krishnan Koil Street above this median at Rs 1,300 per sq.ft.

• Kumaran Street: Rs 1,001 per sq.ft (2024)
• Kumari Anandan Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar / A.S.P. Nagar: Rs 1,001 per sq.ft (2024)
• Kannayiram Street: Rs 1,000 per sq.ft (2024)
• Kannan Nagar/Street: Rs 1,300 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Street / Krishnan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Krishnan Street / Krishnan Koil Street?

The Sub Registrar Office that covers Krishnan Street / Krishnan Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

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 for Krishnan Street / Krishnan Koil Street?

The current guideline value for Krishnan Street / Krishnan Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 157 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 728%.

What is the land classification for this area?

The land classification for Krishnan Street / Krishnan Koil Street is Residential Class I Type - I.

Where can I find the registration office for this street?

The registration office for Krishnan Street / Krishnan Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,17,000.