Guideline Value for Krishnayar Street

Krishnayar Street guideline value

The current guideline value of Krishnayar Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Krishnayar Street has changed

Over the years, the guideline value for Krishnayar Street has seen significant changes. Starting from the 2002 revision, the value was Rs 140 per sq.ft. This increased to Rs 157 per sq.ft in 2003, marking a change of +12%. The value then saw a substantial rise to Rs 1,000 per sq.ft in 2007, reflecting an increase of +537%. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a +150% change from the previous revision. However, the subsequent revision in 2017 saw a decrease to Rs 1,675 per sq.ft, representing a -33% change. The value rebounded to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,800 per sq.ft, which is a +12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1900%. It is important to note that the register has no figures for revisions in years other than those listed above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is the same as the 2024 figure for Krishnayar Street. Below are other streets in Ullagaram:

• Kubera Munusamy Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnayar Street?

The Sub Registrar Office that covers Krishnayar 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Krishnayar Street?

The current guideline value of Krishnayar Street is Rs 2,800 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 140 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of +1900% over this period.

What is the land classification for Krishnayar Street?

The land classification for Krishnayar Street is Residential Class II Type - I.

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

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

How is the stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.