Guideline Value for KRISHNA ENCLAVE

Krishna Enclave guideline value

The current guideline value of Krishna Enclave in Manapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishna Enclave has changed

Over the years, the guideline value of Krishna Enclave has undergone several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, despite the drop from 2012 to 2017.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Krishna Enclave's 2024 figure above this median.

• Krishna Enclave 1st Right Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Enclave 2nd Left Right Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Enclave Main Salai: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Enclave

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Enclave?

The Krishna Enclave area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted at fair values as per the government norms.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Enclave?

The current guideline value of Krishna Enclave is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Krishna Enclave?

Krishna Enclave is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Krishna Enclave?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Krishna Enclave located?

The Sub Registrar Office covering Krishna Enclave is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.