Guideline Value for KRISHNA NAGAR 3RD STREET

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

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

The guideline value for Krishna Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 316 per sq.ft in 2003. Following that, the value rose significantly to Rs 700 per sq.ft in 2007, and then further to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, and finally, the current rate is Rs 1,700 per sq.ft as of 2024.

Overall, the guideline value has increased by 501% from 2002 to 2024. The changes between the revisions include a 114% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 13% increase from 2023 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which means that Krishna Nagar 3rd Street's 2024 figure is below this median.

• Krishna Nagar 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,700 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 rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Sub Registrar Office that covers Krishna Nagar 3rd Street 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 Palavakkam

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are based on a standardized valuation.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall transaction costs. Buyers and sellers should 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 Nagar 3rd Street?

The current guideline value of Krishna Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 283 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 501% over the years.

What are the stamp duty and registration fees for property in Krishna Nagar 3rd Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Krishna Nagar 3rd Street?

The Neelankarai Sub Registrar Office handles property registrations for Krishna Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Krishna Nagar 3rd Street is classified as Residential Class IV Type - II, indicating its designation for residential use within the area.