Guideline Value for KRISHNA NAGAR PHASE VIII

Krishna Nagar Phase VIII guideline value

The current guideline value of Krishna Nagar Phase VIII is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village under the Poonamallee SRO, classified as Residential Class I Type - II.

How the guideline value of Krishna Nagar Phase VIII has changed

Since the 2017 revision, the guideline value for Krishna Nagar Phase VIII has remained unchanged at Rs 1,800 per sq.ft. The 2023 revision also recorded the same value, and the latest 2024 revision continues this trend, reflecting a 0% change from 2023 to 2024 and from 2017 to 2023.

Prior to 2017, the register has no figure for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the overall change from 2017 to 2024 is also 0%.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 6,750 per sq.ft. The median value is Rs 1,800 per sq.ft, which is equal to the guideline value of Krishna Nagar Phase VIII.

• Krishna Nagar Phase VII: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase VI: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase V: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase IV: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase III: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase II: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Phase VIII

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty, calculated at 7%, would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar Phase VIII?

The Sub Registrar Office that covers Krishna Nagar Phase VIII is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Parivakkam. It serves as a benchmark for calculating the taxes owed to the government during the registration process.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Krishna Nagar Phase VIII?

The current guideline value of Krishna Nagar Phase VIII is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has remained unchanged at Rs 1,800 per sq.ft through the 2023 and 2024 revisions, reflecting a 0% change during this period.

What are the guideline values of other streets in Parivakkam?

Other streets in Parivakkam under the Poonamallee SRO also have a guideline value of Rs 1,800 per sq.ft for 2024, including Krishna Nagar Phase II, III, IV, V, VI, and VII.

How is stamp duty calculated for property in Krishna Nagar Phase VIII?

Stamp duty for property in Krishna Nagar Phase VIII is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total stamp duty would amount to Rs 1,26,000.

Where is the Sub Registrar Office for Krishna Nagar Phase VIII located?

The Sub Registrar Office for Krishna Nagar Phase VIII is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles all registration activities for the area.