Guideline Value for KRISHNASWAMY ROAD

Krishnaswamy Road guideline value

The current guideline value of Krishnaswamy Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Krishnaswamy Road has changed

Over the years, the guideline value of Krishnaswamy Road has seen significant changes. The earliest recorded figure is from 2002, where the value was Rs 1,424 per sq.ft. This increased to Rs 1,900 per sq.ft in 2003, marking a 33% rise. By 2007, the value jumped to Rs 3,000 per sq.ft, reflecting a 58% increase. The 2012 revision saw a decrease to Rs 10,000 per sq.ft, which was a drop of 33% from the previous figure. In 2017, the value rose to Rs 6,700 per sq.ft, which was a 49% increase. The 2023 revision set the value at Rs 10,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 11,000 per sq.ft, a 10% rise.

There are no recorded figures for any revisions prior to 2002 or after 2024 for this street. Overall, from 2002 to 2024, the guideline value has increased by 672%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which matches the current guideline value of Krishnaswamy Road.

• Krishna Street: Rs 14,300 per sq.ft (2024)
• Krishnan Street: Rs 7,700 per sq.ft (2024)
• Krishnamachari Street: Rs 7,700 per sq.ft (2024)
• Krishnaiah Street (Krishna Nair Street): Rs 13,200 per sq.ft (2024)
• Krishnabai Street: 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 Krishnaswamy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000. Therefore, the total cost for stamp duty and registration fees would be Rs 9,90,000. 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 Krishnaswamy Road?

The Sub Registrar Office that covers Krishnaswamy Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, reflecting the current market conditions. This value is crucial for maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Krishnaswamy Road?

The current guideline value of Krishnaswamy Road is Rs 11,000 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 1,424 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 672% over this period.

What is the land classification for Krishnaswamy Road?

Krishnaswamy Road is classified as Residential Special Type - I.

Which Sub Registrar Office covers Krishnaswamy Road?

The Thiyagaraya nagar Sub Registrar Office covers Krishnaswamy Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Krishnaswamy Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 7,70,000 at a rate of 7%.