Guideline Value for Krishna chetty street

Krishna chetty street guideline value

The current guideline value of Krishna chetty street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Krishna chetty street has changed

Over the years, the guideline value of Krishna chetty street has seen significant changes. In 2007, the guideline value was Rs 800 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 450%, showcasing a substantial change over the years.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Krishna chetty street's 2024 guideline value of Rs 4,400 per sq.ft is above this median.

• Kovur Vaidyanathan street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman South Street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman North street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Kovilur Amman Koil 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna chetty street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total cost together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Krishna chetty street?

The Sub Registrar Office that covers Krishna chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Chindadripet. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Krishna chetty street?

The current guideline value of Krishna chetty street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 450%.

What are the stamp duty and registration fees for property on Krishna chetty street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fees at Rs 88,000, totaling Rs 3,96,000.

Which office handles property registration for Krishna chetty street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles property registration for Krishna chetty street.

What is the land classification for Krishna chetty street?

Krishna chetty street is classified as Residential Class II Type - I, which indicates its suitability for residential development.