Guideline Value for KRISHNA NAGAR MAIN ROAD

Krishna Nagar Main Road guideline value

The current guideline value of Krishna Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Krishna Nagar Main Road has changed

The guideline value for Krishna Nagar Main Road has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded significantly to Rs 2,500 per sq.ft in 2023, and then increased by 10% to the current rate of Rs 2,750 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Krishna Nagar Main Road above this median.

• Krishnan Street: Rs 2,750 per sq.ft (2024)
• Krishna Street: Rs 2,750 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Kumaraguruparar Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street Veera Anjaneyar Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 Main Road?

The Sub Registrar Office that covers Krishna Nagar Main Road 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 details.

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

The guideline value plays a crucial role during property transactions in Jelandianpettai. It is utilized to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the Registration Department and is regularly updated to reflect changes in the market.

When a property is sold, the guideline value ensures that the transaction is registered at a fair price, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar Main Road?

The current guideline value of Krishna Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Krishna Nagar Main Road?

The Chennai South Joint I Sub Registrar Office handles the registration for Krishna Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair price, maintaining transparency in the real estate market.