Guideline Value for Krishnamurthy Street

Krishnamurthy Street guideline value

The current guideline value of Krishnamurthy Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Krishnamurthy Street has changed

The guideline value for Krishnamurthy Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 401 per sq.ft. It increased to Rs 437 per sq.ft in 2003, followed by a significant jump to Rs 800 per sq.ft in 2007. The 2012 revision saw this value rise to Rs 3,000 per sq.ft, but it then decreased to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,301 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 723%. The value rose by 9% from 2002 to 2003, followed by an increase of 83% from 2003 to 2007. The jump from 2007 to 2012 was 275%, while the value decreased by 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, and finally, from 2023 to 2024, the value increased by 10%.

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 @ Bashyam 3rd 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

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 to Rs 2,97,090. It is important to note that the 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?

The Sub Registrar Office covering Krishnamurthy 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 when registering property transactions in Peravallur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller approaches the Sembiam SRO for registration, the guideline value is used to calculate the applicable fees based on the property's size and the current rate per sq.ft. This ensures that the transaction is processed according to the established values set by the registration department.

Frequently asked questions

What is the current guideline value of Krishnamurthy Street?

The current guideline value of Krishnamurthy 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 significantly from Rs 401 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 723% over the years.

What is the land classification for Krishnamurthy Street?

Krishnamurthy Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Krishnamurthy Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty at 7% would be Rs 2,31,070.