Guideline Value for KRISHNA NAGAR GANDHI STREET

Krishna Nagar Gandhi Street guideline value

The current guideline value of Krishna Nagar Gandhi 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 Gandhi Street has changed

The guideline value for Krishna Nagar Gandhi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 1,500 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 1,500 per sq.ft. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The consistent value of Rs 1,500 per sq.ft from 2012 to 2023 indicates stability in this period before the recent increase.

Guideline values in Pallikaranai

In Pallikaranai, there are 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 value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Krishna Nagar Gandhi Street.

• Krishna Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Second Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• KRISHNA NAGAR 3rd CROSS STREET.: Rs 1,650 per sq.ft (2024)
• KRISHNA NAGAR 2nd CROSS STREET.: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the 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 Gandhi Street?

The Sub Registrar Office that covers Krishna Nagar Gandhi 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 information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to note that the final duty is calculated based on the higher of the guideline value or the sale price, thus protecting the interests of the state in property transactions.

Frequently asked questions

What is the current guideline value of Krishna Nagar Gandhi Street?

The current guideline value of Krishna Nagar Gandhi 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 remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,650 per sq.ft in 2024. This represents a 10% increase from the previous year.

What is the land classification for Krishna Nagar Gandhi Street?

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

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

The Sub Registrar Office for Krishna Nagar Gandhi 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 for properties in Krishna Nagar Gandhi Street?

Stamp duty for properties in Krishna Nagar Gandhi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.