Guideline Value for KRISHNA NAGAR 3RD STREET

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

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

The guideline value for Krishna Nagar 3rd Street has experienced several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

There are no registered figures for the years 2002, 2003, and 2007 for Krishna Nagar 3rd Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Krishna Nagar 3rd Street.

• KRISHNA NAGAR 3rd CROSS STREET.: Rs 1,650 per sq.ft (2024)
• KRISHNA NAGAR 2nd CROSS STREET.: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 1st Cross Street.: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Gandhi Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, which totals Rs 1,15,500, and the registration fee is charged at 2%, amounting to Rs 33,000. Therefore, the total cost for stamp duty and registration fees together is Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Krishna Nagar 3rd Street falls under 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal and financial obligations during the transaction.

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

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing a significant increase of 49% from 2017 to 2023.

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

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

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

The Sub Registrar Office for Krishna Nagar 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee Rs 33,000, totaling Rs 1,48,500.