Guideline Value for Krishna Street

Krishna Street guideline value

The current guideline value of Krishna Street in Ramapuram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Krishna Street has changed

Since the 2012 revision, the guideline value for Krishna Street has seen several changes. In 2012, the guideline value was Rs 2,500 per sq.ft. This decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Krishna Street's 2024 guideline value is below this median.

• Kulakkarai Street: Rs 2,750 per sq.ft (2024)
• K.P.Nagar Ist Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar Ist Cross Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar: Rs 3,550 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office that covers Krishna Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the Registration Department and is periodically revised to reflect changes in the real estate market.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Krishna Street?

Krishna Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Krishna Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Krishna Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.