Guideline Value for Krishnaswamy Street

Krishnaswamy Street guideline value

The current guideline value of Krishnaswamy Street, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Type - I.

How the guideline value of Krishnaswamy Street has changed

The guideline value for Krishnaswamy Street has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 168 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 257%. In 2012, the value further increased to Rs 3,500 per sq.ft, reflecting a substantial jump of 483%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The most recent revision in 2024 shows a significant increase to Rs 3,850 per sq.ft, which is a rise of 64% from the previous figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 2,192%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, making the 2024 figure for Krishnaswamy Street above that median.

• Krishnapuram: Rs 2,750 per sq.ft (2024)
• Krishna Nagar Harijan Colony: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kulakarai 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that 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 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to consider the guideline value to ensure compliance with legal requirements. The registration office will use this value to assess the appropriate fees, which are mandatory for completing the transaction.

Frequently asked questions

What is the current guideline value of Krishnaswamy Street?

The current guideline value of Krishnaswamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with a notable increase of 2,192% from Rs 168 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Krishnaswamy Street?

The land classification for Krishnaswamy Street is Mixed Type - I, which indicates the type of development permitted in the area.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 38,50,000, with a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Krishnaswamy Street?

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