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Guideline Value

Corporate

Guideline Value for KRISHNA NAGAR MAIN ROAD

₹1700/sq.ft.

The guideline value for Krishna Nagar Main Road in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹316 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹283 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Krishna Nagar Main Road

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Krishna Nagar Main Road guideline value

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

How the guideline value of Krishna Nagar Main Road has changed

The guideline value for Krishna Nagar Main Road 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. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017 before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 501%. The register has no figures for the years not listed in the revisions above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Krishna Nagar Main Road is below this median.

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

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 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 Main Road?

The Krishna Nagar Main Road 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 in property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value serves as a reference point, ensuring that the transaction is documented at a value that reflects the current market conditions as set by the local authorities. This helps maintain transparency and consistency in property dealings.

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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly 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 properties in Krishna Nagar Main Road?

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 registrations for Krishna Nagar Main Road?

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

How is the guideline value determined for properties in Palavakkam?

The guideline value is determined by the local authorities and is based on various factors, including land classification and recent property transactions in the area. It serves as a reference for property registration and taxation purposes.