Guideline Value for Krishna Street

Krishna Street guideline value

The current guideline value of Krishna Street in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Krishna Street has changed

The guideline value for Krishna Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, this value decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, indicating a 10% increase from the previous year.

Notably, the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with the median being Rs 2,200 per sq.ft. Krishna Street's 2024 guideline value is equal to this median.

• Krishna Street (Yadhaval Street): Rs 2,200 per sq.ft (2024)
• Kulakkarai Street: Rs 2,530 per sq.ft (2024)
• Kurnchi Nagar 1st St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 2-nd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 3-rd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 4-th St: Rs 1,650 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It's important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Street?

The Sub Registrar Office that covers Krishna Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Krishna Street?

The current guideline value of Krishna Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Krishna Street has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a significant increase of 267% overall.

What is the land classification for Krishna Street?

The land classification for Krishna Street is Residential Special Type - II, which affects the guideline value and property usage in the area.

What are the stamp duty and registration fees for properties on Krishna Street?

For a property valued at Rs 22,00,000 on Krishna Street, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Krishna Street located?

The Tambaram Joint 1 Sub Registrar Office, which covers Krishna Street, is located at No.26, Mes Road, East Tambaram, Chennai-600059.