Guideline Value for Krishnan Koil Street

Krishnan Koil Street guideline value

The current guideline value of Krishnan Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Krishnan Koil Street has changed

The guideline value for Krishnan Koil Street has undergone several revisions over the years. The earliest recorded revision in 2003 set the guideline value at Rs 312 per sq.ft. This increased to Rs 375 per sq.ft in 2007, marking a 20% rise. By 2017, the value saw a significant jump to Rs 1,340 per sq.ft, reflecting a 257% increase from the previous revision. However, there are no figures available for the revisions in 2002 and 2012.

In 2023, the guideline value was further revised to Rs 2,000 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this area is Rs 2,420 per sq.ft, making the current value of Krishnan Koil Street below that median.

• Kulakarai 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Kula Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnan Koil Street?

The Sub Registrar Office that covers Krishnan Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Thiruneermalai, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on this value, ensuring that all transactions are recorded accurately and transparently.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishnan Koil Street?

The current guideline value of Krishnan Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 605% over the years.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft for the year 2024, which is higher than the current value of Krishnan Koil Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Krishnan Koil Street?

The Pammal Sub Registrar Office covers Krishnan Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.