Guideline Value for Con Krishna Nagar

Con Krishna Nagar guideline value

The current guideline value of Con Krishna Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Con Krishna Nagar has changed

The guideline value for Con Krishna Nagar has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a 49% increase in the guideline value. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Con Krishna Nagar's 2024 figure above this median.

• CTO Colony 1st St: Rs 3,300 per sq.ft (2024)
• CTO Colony 2nd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 3rd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 4th extn: Rs 3,300 per sq.ft (2024)
• CTO Colony 4th St: Rs 3,300 per sq.ft (2024)
• CTO Colony 5th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Con Krishna Nagar

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

For more calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Con Krishna Nagar?

The Sub Registrar Office covering Con Krishna Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Con Krishna Nagar?

The current guideline value of Con Krishna Nagar 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 from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Con Krishna Nagar?

Con Krishna Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same value. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur total fees of Rs 3,96,000.

Where can I find the Sub Registrar Office for Con Krishna Nagar?

The Sub Registrar Office for Con Krishna Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.