Guideline Value for Krishnasamy Street

Krishnasamy Street guideline value

The current guideline value of Krishnasamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Krishnasamy Street has changed

Over the years, the guideline value of Krishnasamy Street has seen significant changes. The 2007 revision recorded a value of Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, the value dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. From 2017 to 2023, the value surged to Rs 4,000 per sq.ft, a substantial increase of 49%, and finally, the latest revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have any figures recorded for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Krishnasamy Street is above this median.

• Kumaran Street: Rs 4,400 per sq.ft (2024)
• Kannan colony 5th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 4th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnasamy Street?

The Sub Registrar Office that covers Krishnasamy Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavanthangal. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented legally and accurately.

When a property is sold, the buyer often pays the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnasamy Street?

The current guideline value of Krishnasamy Street is Rs 4,400 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 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the other streets in Palavanthangal with their guideline values?

Other streets in Palavanthangal include Kumaran Street at Rs 4,400 per sq.ft, and various Kannan Colony streets ranging from Rs 2,800 per sq.ft.

What are the stamp duty and registration fees for properties on Krishnasamy Street?

For a 1,000 sq.ft property, the total guideline value is Rs 44,00,000, resulting in a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Krishnasamy Street located?

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