Guideline Value for Krishnan Street

Krishnan Street guideline value

The current guideline value of Krishnan Street, located in Kolathur village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sembiam SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishnan Street has changed

Over the years, the guideline value of Krishnan Street has seen significant changes. The earliest recorded figure is from 2003, which was Rs 231 per sq.ft. This value increased to Rs 700 per sq.ft in 2007, marking a substantial rise of 203%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 329%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

Notably, there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1329%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median value being Rs 3,300 per sq.ft. Krishnan Street's 2024 guideline value is equal to this median.

• Krishna Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Krishna Swamy Nagar: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• K.S. Nagar: Rs 2,700 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnan Street?

The Sub Registrar Office that covers Krishnan 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 Kolathur

The guideline value plays a crucial role in property transactions in Kolathur. It is used as a reference for determining the stamp duty and registration fees when buying or selling property. Buyers must be aware that the guideline value is often considered the minimum value for registration purposes.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnan Street?

The current guideline value of Krishnan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 231 per sq.ft in 2003 and reaching Rs 3,300 per sq.ft in 2024, marking an overall increase of 1329%.

What is the land classification of Krishnan Street?

Krishnan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties on Krishnan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.