Guideline Value for NORTH KRISHNAN STREET

North Krishnan Street guideline value

The current guideline value of North Krishnan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kanchipuram Town village and falls under the Kanchipuram Joint I SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of North Krishnan Street has changed

The guideline value for North Krishnan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision and further rose to Rs 1,100 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. The most significant increase occurred between the 2017 and 2023 revisions, with a rise of 49%. The change from 2023 to 2024 reflects a 10% increase as well.

Guideline values in Kanchipuram Town

In Kanchipuram Town, there are 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, positioning North Krishnan Street's 2024 figure below that median.

• Nimandakara Ottha Vadai Street: Rs 1,650 per sq.ft (2024)
• Olimugamadhupettai Road Street (A) Vellore Road: Rs 1,100 per sq.ft (2024)
• Olimugamadupet Road Street(Or)arrakonam Road: Rs 1,100 per sq.ft (2024)
• Netteri Road: Rs 1,100 per sq.ft (2024)
• Nellukara Street(Or) Annani Indira Gandhi Salai: Rs 5,500 per sq.ft (2024)
• Nagareeswarar Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in North Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Krishnan Street?

The Sub Registrar Office that covers North Krishnan Street is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kanchipuram Town. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of North Krishnan Street?

The current guideline value of North Krishnan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for North Krishnan Street?

North Krishnan Street is classified as Residential Class III Type - III.

What are the stamp duty and registration fees for property in North Krishnan Street?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers North Krishnan Street?

The Kanchipuram Joint I Sub Registrar Office covers North Krishnan Street, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.