Guideline Value for Krishnapuram

Krishnapuram guideline value

The current guideline value of Krishnapuram, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. The land is classified as Residential Class I Type - III.

How the guideline value of Krishnapuram has changed

The guideline value for Krishnapuram has seen several revisions over the years. In 2002, the value was Rs 331 per sq.ft, which increased to Rs 385 per sq.ft in 2003. By 2007, the value had risen significantly to Rs 900 per sq.ft, and it continued to rise to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before climbing back to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft.

From the 2017 revision to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects an increase of 11%. The largest change occurred from 2007 to 2012, where the value decreased by 33%. Overall, from 2002 to 2024, the guideline value has increased by 1078%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which matches the guideline value of Krishnapuram.

• Krishna Street: Rs 3,900 per sq.ft (2024)
• Kumaran Street/Kumarapuram Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnapuram

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishnapuram?

The Sub Registrar Office that covers Krishnapuram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Krishnapuram?

The current guideline value of Krishnapuram is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 331 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1078% over the years.

What is the land classification of Krishnapuram?

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

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Krishnapuram?

Stamp duty for properties in Krishnapuram is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 3,51,000 in fees.