Guideline Value for N.S.KRISHNAN STREET

N.S.Krishnan Street guideline value

The current guideline value of N.S.Krishnan Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of N.S.Krishnan Street has changed

The guideline value for N.S.Krishnan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 114% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, which was a 49% rise. The latest revision in 2024 sets the guideline value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

It is important to note that there are no figures available for N.S.Krishnan Street in the 2002 and 2003 revisions.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing N.S.Krishnan Street's 2024 figure below that median.

• Old Mahabalipuram Road: Rs 8,800 per sq.ft (2024)
• Pachaiappan 10th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 2ndstreet: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total costs together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers N.S.Krishnan Street?

The Sub Registrar Office that covers N.S.Krishnan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. The guideline value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. This ensures that the correct amount of stamp duty and registration fees is paid, as these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of N.S.Krishnan Street?

The current guideline value of N.S.Krishnan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 143% over the years.

What is the land classification of N.S.Krishnan Street?

N.S.Krishnan Street is classified as Residential Class IV Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in N.S.Krishnan Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,700 per sq.ft, the stamp duty would be Rs 1,19,000.