Guideline Value for Krishna Street

Krishna Street guideline value

The current guideline value of Krishna Street in Valasaravakkam village, under the Virugambakkam SRO, is Rs 5,550 per sq.ft, effective from 1 July 2024. The land classification for this street is Commercial Special Type - II.

How the guideline value of Krishna Street has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This value remained until the 2017 revision, which saw a decrease to Rs 3,350 per sq.ft, reflecting a -33% change. The 2023 revision brought the value back up to Rs 5,000 per sq.ft, followed by the current 2024 revision at Rs 5,550 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,850 per sq.ft, placing Krishna Street's 2024 figure above this median.

• Krishnan Koil Street: Rs 3,850 per sq.ft (2024)
• Kuberan Street: Rs 3,300 per sq.ft (2024)
• Krishnamachari Salai: Rs 3,850 per sq.ft (2024)
• Krishnamachari Nagar - Velmurugan Street: Rs 3,850 per sq.ft (2024)
• Krishnamachari Nagar - Gugan Street: Rs 3,850 per sq.ft (2024)
• Kumaran Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 55,50,000. The stamp duty at 7% would amount to Rs 3,88,500, and the registration fee at 2% would be Rs 1,11,000, making the total Rs 4,99,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office covering Krishna Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value as it directly affects the costs involved in the transaction. It is advisable to check the current guideline value before proceeding with any property deal to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 5,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 in 2012 to Rs 3,350 in 2017, then back to Rs 5,000 in 2023, and currently to Rs 5,550 in 2024. This reflects various increases and decreases over the years.

What is the land classification for Krishna Street?

The land classification for Krishna Street is Commercial Special Type - II, indicating its zoning for commercial activities.

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

The Sub Registrar Office for Krishna Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Krishna Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,50,000 would incur a stamp duty of Rs 3,88,500 at a rate of 7%.