Guideline Value for Krishnan Street (G) Lord Srinivasa Colony

Krishnan Street (G) Lord Srinivasa Colony guideline value

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

How the guideline value of Krishnan Street (G) Lord Srinivasa Colony has changed

The guideline value for Krishnan Street (G) Lord Srinivasa Colony has undergone several revisions since 2002. The 2002 revision set the value at Rs 214 per sq.ft, which increased to Rs 242 per sq.ft in 2003. Following this, the value rose significantly to Rs 470 per sq.ft in 2007, marking an increase of 94% from the previous revision. The 2017 revision saw a further increase to Rs 1,340 per sq.ft, representing a remarkable 185% rise. In 2023, the value was updated to Rs 2,000 per sq.ft, which was a 49% increase from 2017. The current guideline value is Rs 2,200 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. Notably, the register has no figure for this street in the 2012 revision.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Krishnan Street (G) Lord Srinivasa Colony above this median.

• Krishnan Street (N.D.) Pasumpon Nagar: Rs 2,200 per sq.ft (2024)
• Krishnan Street, Nehru Nagar: Rs 2,200 per sq.ft (2024)
• Krishnasamy Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Krishna Nagar, 6th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar, 5th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 5th Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Street (G) Lord Srinivasa Colony

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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnan Street (G) Lord Srinivasa Colony?

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

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

The guideline value is a crucial factor when buying or selling property in Pammal, as it serves as the basis for calculating stamp duty and registration fees. Buyers should be aware that these fees are determined based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value helps in establishing a transparent pricing mechanism, which benefits both buyers and sellers. It also aids in preventing undervaluation of properties, ensuring that fair revenue is collected for the state.

Frequently asked questions

What is the current guideline value of Krishnan Street (G) Lord Srinivasa Colony?

The current guideline value of Krishnan Street (G) Lord Srinivasa Colony 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 seen significant increases over the years, from Rs 214 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. Notably, the value increased by 928% overall from 2002 to 2024.

Which Sub Registrar Office is responsible for Krishnan Street (G) Lord Srinivasa Colony?

The Pammal Sub Registrar Office is responsible for Krishnan Street (G) Lord Srinivasa Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification for Krishnan Street (G) Lord Srinivasa Colony?

Krishnan Street (G) Lord Srinivasa Colony is classified as Residential Class II Type - I, indicating its suitability for residential development.