Guideline Value for KRISHNA GARDEN

Krishna Garden guideline value

The current guideline value of Krishna Garden is Rs 1,000 per sq.ft, effective from the 2024 revision. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class V Type - I.

How the guideline value of Krishna Garden has changed

The guideline value for Krishna Garden has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft, which increased to Rs 900 per sq.ft in 2012, marking a 50% rise. However, in the 2017 revision, the value decreased to Rs 603 per sq.ft, reflecting a 33% drop. The value then rose significantly to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating a 66% increase from 2017.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 67%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, making Krishna Garden's 2024 figure below that median.

• Krishnan Garden: Rs 1,000 per sq.ft (2024)
• Khajamohideen Garden: Rs 2,800 per sq.ft (2024)
• Kumari Garden: Rs 1,700 per sq.ft (2024)
• Kuthus Garden - I: Rs 3,300 per sq.ft (2024)
• Kuthus Garden II: Rs 3,300 per sq.ft (2024)
• Karthik Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Garden?

The Sub Registrar Office that covers Krishna Garden 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 information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Chemmancheri. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation of the property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the transaction, as determined by the local government.

Frequently asked questions

What is the current guideline value of Krishna Garden?

The current guideline value of Krishna Garden is Rs 1,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, with various increases and decreases in between, including a significant rise of 66% from 2017 to 2023.

What is the median guideline value in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, while Krishna Garden's 2024 figure is below this median.

What are the stamp duty and registration fees for Krishna Garden?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 90,000, calculated based on the guideline value of Rs 10,00,000.

Where is the Sub Registrar Office for Krishna Garden located?

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