Guideline Value for Krishna Street

Krishna Street guideline value

The current guideline value of Krishna Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Krishna Street has changed

Since the 2002 revision, the guideline value for Krishna Street has seen significant changes. The 2002 revision recorded a value of Rs 269 per sq.ft, which increased to Rs 307 per sq.ft in 2003. Following that, the value rose dramatically to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before climbing back to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 shows a further increase to Rs 3,900 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1350%. The change from 2017 to 2023 was +49%, while the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was +289%, and from 2003 to 2007, it increased by 193%. The change from 2002 to 2003 was +14%. There are no revisions with figures missing for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the guideline value for Krishna Street.

• Krishnapuram: Rs 3,900 per sq.ft (2024)
• Kumaran Street/Kumarapuram Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Krishna Street?

The Sub Registrar Office that covers Krishna Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of property prices. This process helps maintain transparency in property transactions in the region.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 3,900 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 269 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1350% over this period.

What is the land classification for Krishna Street?

The land classification for Krishna Street is Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Krishna Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Krishna Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covering Krishna Street.