Guideline Value for Krishna Colony

Krishna Colony guideline value

The current guideline value of Krishna Colony, located in Kilkattalai village under the Pallavaram SRO, is Rs 1,080 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - III.

How the guideline value of Krishna Colony has changed

The guideline value for Krishna Colony has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 185 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a significant rise of 62%. In 2012, the value remained at Rs 1,000 per sq.ft, which was a notable increase of 233% from the previous revision. However, in 2017, the value dropped to Rs 670 per sq.ft, representing a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,080 per sq.ft in 2024, which is an increase of 8% from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 484%.

It is important to note that there is no recorded figure for Krishna Colony in the 2002 revision. The changes in guideline value reflect the adjustments made by the Registration Department to align with market conditions and property assessments.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Krishna Colony's 2024 figure is below this median.

• Krishna Nagar: Rs 3,080 per sq.ft (2024)
• Kirupanandhavariyar Avenue: Rs 2,200 per sq.ft (2024)
• Kula Street: Rs 1,080 per sq.ft (2024)
• KGK Nagar: Rs 2,200 per sq.ft (2024)
• Kumaran Colony: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,080 per sq.ft, the total guideline value would be Rs 10,80,000. The stamp duty at 7% would amount to Rs 75,600, and the registration fee at 2% would be Rs 21,600, leading to a total of Rs 97,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Colony?

The Krishna Colony area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Krishna Colony?

The current guideline value of Krishna Colony is Rs 1,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 185 per sq.ft in 2003 to Rs 1,080 per sq.ft in 2024, reflecting an overall increase of 484% over this period.

What is the land classification for Krishna Colony?

Krishna Colony is classified as Residential Class IV Type - III, indicating its designation for residential use.

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

The Sub Registrar Office covering Krishna Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 97,200.