Guideline Value for Krishna Murthy Street

Krishna Murthy Street guideline value

The current guideline value of Krishna Murthy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Krishna Murthy Street has changed

The guideline value for Krishna Murthy Street has seen several revisions over the years. The oldest recorded figure is from the 2007 revision, which was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a change of 275%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2017, and 2023. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Krishna Murthy Street's 2024 value below this median.

• Krishnan 2nd Street: Rs 2,700 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kovalan Street (Pari Nagar): Rs 4,400 per sq.ft (2024)
• Krishnan Street Block 62 (W.M): Rs 5,500 per sq.ft (2024)
• Kothandaramasamy Koil South Street: Rs 3,300 per sq.ft (2024)
• Kothanda Ramapillai Thottam: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Murthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 information.

Which Sub Registrar Office covers Krishna Murthy Street?

The Sub Registrar Office that covers Krishna Murthy Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure transparency and fairness in the registration process. It serves as a benchmark for the value of properties in the area, guiding both buyers and sellers in their transactions.

Frequently asked questions

What is the current guideline value of Krishna Murthy Street?

The current guideline value of Krishna Murthy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 313%, from Rs 800 per sq.ft to Rs 3,300 per sq.ft in 2024.

What is the land classification for Krishna Murthy Street?

Krishna Murthy Street is classified as Residential Class IV Type - II.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Krishna Murthy Street.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.