Guideline Value for Krishnan Street

Krishnan Street guideline value

The current guideline value of Krishnan Street, located in Menambedu village under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Krishnan Street has changed

Over the years, the guideline value of Krishnan Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which was later reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,600 per sq.ft in the 2023 revision and finally reached Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 6%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, indicating that Krishnan Street's 2024 figure is above the median.

• Kuppusamy Street: Rs 1,001 per sq.ft (2024)
• Lakshmi Colony: Rs 1,300 per sq.ft (2024)
• Kathiresan Street: Rs 1,700 per sq.ft (2024)
• Karuppankulam St (Elango Street): Rs 1,000 per sq.ft (2024)
• Karukku Main Road 4th Street: Rs 1,000 per sq.ft (2024)
• Karukku Main Road 3rd Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishnan Street?

The Sub Registrar Office that covers Krishnan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Menambedu. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered as a baseline for calculating the necessary fees. If the sale price exceeds the guideline value, the duty is applied to the sale price instead.

Frequently asked questions

What is the current guideline value of Krishnan Street?

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

How has the guideline value changed over the years?

The guideline value of Krishnan Street has changed several times, with the most recent increase of 6% from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024.

What is the land classification for Krishnan Street?

The land classification for Krishnan Street is Residential Special Type - I, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Krishnan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Menambedu?

Stamp duty for properties in Menambedu is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.