Guideline Value for KRISHNA NAGAR 3RD STREET

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Krishna Nagar 3rd Street has changed

In the 2012 revision, the guideline value was recorded at Rs 2,300 per sq.ft. This value decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 2,300 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,530 per sq.ft, which is a rise of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Krishna Nagar 3rd Street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry 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, which is equal to the guideline value of Krishna Nagar 3rd Street.

• Krishna Nagar 4th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar Periyar Salai: Rs 2,530 per sq.ft (2024)
• Krishna Enclave Main Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty, charged at 7%, would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Sub Registrar Office that covers Krishna Nagar 3rd Street is 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 details.

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

The guideline value is an important factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the fees are calculated correctly. The registration office uses this value to assess the applicable charges, which are essential for completing the property transfer process.

Frequently asked questions

What is the current guideline value of Krishna Nagar 3rd Street?

The current guideline value of Krishna Nagar 3rd Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024. The value decreased from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, before rising again in subsequent revisions.

What is the land classification for Krishna Nagar 3rd Street?

The land classification for Krishna Nagar 3rd Street is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Krishna Nagar 3rd Street?

The Sub Registrar Office for Krishna Nagar 3rd Street is 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.

How is stamp duty calculated in Krishna Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,30,000, the stamp duty at 7% would amount to Rs 1,77,100.