Guideline Value for Krishnama Lane

Krishnama Lane guideline value

The current guideline value of Krishnama Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Krishnama Lane has changed

The guideline value for Krishnama Lane has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, this value dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. In 2023, the guideline value was Rs 8,000 per sq.ft, and the most recent revision in 2024 set it at Rs 8,800 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Nungambakkam

Nungambakkam has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current value of Krishnama Lane.

• Krishnama Road: Rs 8,800 per sq.ft (2024)
• Krishna Iyer Street: Rs 8,800 per sq.ft (2024)
• Kothari Road: Rs 15,400 per sq.ft (2024)
• Kodambakkam High Road: Rs 15,400 per sq.ft (2024)
• Khader NawazKhan Road: Rs 13,200 per sq.ft (2024)
• Kumarappa Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnama Lane

For a 1,000 sq.ft plot at the current guideline rate of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnama Lane?

The Sub Registrar Office that covers Krishnama Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial reference point during the registration of property transactions in Nungambakkam. It helps determine the stamp duty and registration fees that need to be paid based on the property's value.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Krishnama Lane?

The current guideline value of Krishnama Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for properties on Krishnama Lane?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Krishnama Lane?

The Chennai Central Joint II Sub Registrar Office covers Krishnama Lane, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Krishnama Lane?

Krishnama Lane is classified as Residential Special Type - II under the Chennai Central Joint II SRO.