Guideline Value for Krishnamurthy Street @ Bashyam 3rd Street

Krishnamurthy Street @ Bashyam 3rd Street guideline value

The current guideline value for Krishnamurthy Street @ Bashyam 3rd Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Krishnamurthy Street @ Bashyam 3rd Street has changed

The guideline value for Krishnamurthy Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose sharply by 49% to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,301 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is the same as the guideline value for Krishnamurthy Street.

• Krishnamurthy Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 3,301 per sq.ft (2024)
• Kolathur Road: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamurthy Street @ Bashyam 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total cost for these fees to Rs 2,97,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnamurthy Street @ Bashyam 3rd Street?

The Sub Registrar Office that covers Krishnamurthy Street @ Bashyam 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Krishnamurthy Street?

The current guideline value for Krishnamurthy Street @ Bashyam 3rd Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office registers properties in Peravallur?

The Sembiam Sub Registrar Office is responsible for registering properties in Peravallur, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Krishnamurthy Street?

The land classification for Krishnamurthy Street @ Bashyam 3rd Street is Residential Special Type - II.