Guideline Value for KRISHNA NAGAR 4TH STREET

Krishna Nagar 4th Street guideline value

The current guideline value of Krishna Nagar 4th 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 Street has changed

The guideline value for Krishna Nagar 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 283 per sq.ft. This increased to Rs 316 per sq.ft in 2003, marking a 12% rise. The value further climbed to Rs 700 per sq.ft in 2007, a significant increase of 122%. By 2012, the value was Rs 1,500 per sq.ft, reflecting a 114% increase from the previous revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, indicating a decrease of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, and finally, in 2024, it rose to Rs 1,700 per sq.ft, a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 501%. There are no recorded figures for revisions in years other than those mentioned.

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 guideline value in this area is Rs 3,300 per sq.ft, placing Krishna Nagar 4th Street's 2024 figure below that median.

• Krishna Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Krishna Nagar 8th Street: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to 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 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 Nagar 4th Street?

The Krishna Nagar 4th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of local market conditions. It is essential to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Krishna Nagar 4th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 283 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, which is an overall increase of 501%.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, which is higher than the guideline value of Krishna Nagar 4th Street.

What is the stamp duty for property in Krishna Nagar 4th Street?

The stamp duty for property in Krishna Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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