Guideline Value for Krishnamachari Street

Krishnamachari Street guideline value

The current guideline value of Krishnamachari Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishnamachari Street has changed

The guideline value for Krishnamachari Street has seen significant changes over the years. In 2003, the guideline value was Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision brought the value up to Rs 3,200 per sq.ft, but it then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value rose to Rs 3,200 per sq.ft in 2023 and finally reached Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the current 2024 figure, the guideline value has increased by 624%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Krishnamachari Street is above this median.

• Krishna Nagar: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Kovalan Street: Rs 2,750 per sq.ft (2024)
• Kovalan 2nd Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamachari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost for these charges Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamachari Street?

The Sub Registrar Office that covers Krishnamachari Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure proper compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the market conditions in the area.

Frequently asked questions

What is the current guideline value of Krishnamachari Street?

The current guideline value of Krishnamachari Street 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 486 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 624% over this period.

What is the land classification of Krishnamachari Street?

Krishnamachari Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Krishnamachari Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400.