Guideline Value for Krishnan Street

Krishnan Street guideline value

The current guideline value of Krishnan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Krishnan Street has changed

The guideline value for Krishnan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased it to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but it increased by 49% from 2017 to 2023. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Krishnan Street.

• Kulakkarai street: Rs 1,650 per sq.ft (2024)
• Kulothungan street: Rs 2,750 per sq.ft (2024)
• Kousik Avenue: Rs 2,750 per sq.ft (2024)
• Kumaran Street: Rs 1,650 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kuppachary Street: Rs 3,850 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the correct fees are paid. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Krishnan Street?

The current guideline value of Krishnan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Krishnan Street?

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

What are the stamp duty and registration fees for properties in Krishnan Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Which office handles registrations for Krishnan Street?

The Tambaram Joint 1 Sub Registrar Office is responsible for handling registrations for Krishnan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.