Guideline Value for Krishnaswamy Street

Krishnaswamy Street guideline value

The current guideline value of Krishnaswamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Krishnaswamy Street has changed

The guideline value for Krishnaswamy Street has undergone several revisions over the years. The earliest figure available is from 2003, which was Rs 141 per sq.ft. This value increased significantly to Rs 400 per sq.ft in 2007, marking a 184% rise. In 2012, the value rose to Rs 3,000 per sq.ft, which was a substantial increase of 650%. However, the value then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The next revision in 2023 saw an increase to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2,240%. It is important to note that there is no figure available for Krishnaswamy Street in the 2002 revision.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current figure for Krishnaswamy Street.

• Kulakkarai Street: Rs 2,750 per sq.ft (2024)
• Kribith Street 6th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 3rd Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaswamy 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishnaswamy Street?

The Sub Registrar Office that covers Krishnaswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Issa Pallavaram. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair value. This value is used to calculate stamp duty and registration fees, which are mandatory during property registration.

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

Frequently asked questions

What is the current guideline value of Krishnaswamy Street?

The current guideline value of Krishnaswamy 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 from Rs 141 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,240% over the years.

What is the land classification for Krishnaswamy Street?

Krishnaswamy Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Krishnaswamy Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Issa Pallavaram?

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