Guideline Value for Krishna puram

Krishna puram guideline value

The current guideline value of Krishna puram, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Krishna puram has changed

Since 2002, the guideline value of Krishna puram has seen significant changes. The value began at Rs 247 per sq.ft in 2002 and rose to Rs 500 per sq.ft in 2003, marking an increase of 102%. In 2007, the value further increased to Rs 750 per sq.ft, a rise of 50%. The 2012 revision saw the value jump to Rs 3,200 per sq.ft, reflecting a substantial increase of 327%. However, in 2017, the value dropped to Rs 2,144 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 3,200 per sq.ft in 2023, followed by a final rise to Rs 3,520 per sq.ft in 2024, which is an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,325%. The register has no figures for the revisions in years other than those specified.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Krishna puram is below this median.

• Krishna Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna puram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, this results in a total of Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna puram?

The Sub Registrar Office that covers Krishna puram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishna puram?

The current guideline value of Krishna puram is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 247 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1,325% over the years.

What is the land classification for Krishna puram?

Krishna puram is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Krishna puram?

The Kunrathur Sub Registrar Office is responsible for handling registrations for Krishna puram, located at No.59, Road Street, Kundrathur, Chennai -600 069.