Guideline Value for P. Krishnan Street

P. Krishnan Street guideline value

The current guideline value of P. Krishnan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of P. Krishnan Street has changed

The guideline value for P. Krishnan Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft. This decreased to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. However, the value increased significantly to Rs 4,400 per sq.ft in the 2024 revision, representing a rise of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, making P. Krishnan Street's 2024 figure of Rs 4,400 per sq.ft above that median.

• Play ground Street: Rs 3,850 per sq.ft (2024)
• P.N. Ramamurthy Street: Rs 3,850 per sq.ft (2024)
• Poolakshi Street: Rs 4,400 per sq.ft (2024)
• Prakasam Street: Rs 4,400 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Periyar Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in P. Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P. Krishnan Street?

P. Krishnan Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of P. Krishnan Street?

The current guideline value of P. Krishnan Street is Rs 4,400 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then to Rs 4,400 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10%.

What is the land classification of P. Krishnan Street?

P. Krishnan Street is classified as Residential Class I Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers P. Krishnan Street?

The Virugambakkam Sub Registrar Office covers P. Krishnan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.