Guideline Value for KRISHNA NAGAR 4TH CROSS STREET

Krishna Nagar 4th Cross Street guideline value

The current guideline value of Krishna Nagar 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Krishna Nagar 4th Cross Street has changed

The guideline value for Krishna Nagar 4th Cross Street has undergone 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, marking a 12% rise. The value then saw significant increases, reaching Rs 700 per sq.ft in 2007, a 122% jump from the previous figure. By 2012, the value was Rs 1,500 per sq.ft, reflecting a 114% increase from 2007. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 1,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, representing a 13% increase from 2023. The overall change from 2002 to 2024 shows a significant increase of 501% in the guideline value for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, placing Krishna Nagar 4th Cross Street's 2024 figure below this median.

• Krishna Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty is charged at 7%, which totals Rs 1,19,000, while the registration fee is 2%, amounting to Rs 34,000. Therefore, the total cost for stamp duty and registration fees together is Rs 1,53,000. 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 4th Cross Street?

The Krishna Nagar 4th Cross Street is covered by 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 details.

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

The guideline value is an essential factor when buying or selling property in Palavakkam. It serves as a reference point for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishna Nagar 4th Cross Street?

The current guideline value of Krishna Nagar 4th Cross 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 this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the total stamp duty is Rs 1,19,000 and the registration fee is Rs 34,000, making the total fees Rs 1,53,000.

Which Sub Registrar Office is responsible for Krishna Nagar 4th Cross Street?

The Neelankarai Sub Registrar Office covers Krishna Nagar 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Krishna Nagar 4th Cross Street?

Krishna Nagar 4th Cross Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.