Guideline Value for Krishnan 2nd Street

Krishnan 2nd Street guideline value

The current guideline value of Krishnan 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. It is classified as Residential Class IV Type - III.

How the guideline value of Krishnan 2nd Street has changed

The guideline value for Krishnan 2nd Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 800 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 213%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the 2012 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in the area is Rs 4,900 per sq.ft, which means that Krishnan 2nd Street's 2024 figure is below this median.

• Krishna Murthy Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kovalan Street (Pari Nagar): Rs 4,400 per sq.ft (2024)
• Krishnan Street Block 62 (W.M): Rs 5,500 per sq.ft (2024)
• Kothandaramasamy Koil South Street: Rs 3,300 per sq.ft (2024)
• Kothanda Ramapillai Thottam: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnan 2nd Street?

The Sub Registrar Office that covers Krishnan 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark to determine the minimum value of a property for registration purposes, ensuring that the property is not undervalued during the transaction.

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

Frequently asked questions

What is the current guideline value of Krishnan 2nd Street?

The current guideline value of Krishnan 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2012, and then to Rs 2,700 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street.

What is the land classification of Krishnan 2nd Street?

Krishnan 2nd Street is classified as Residential Class IV Type - III.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current guideline value of Krishnan 2nd Street.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.