Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value for Krishna Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Krishna Nagar has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 670 per sq.ft, representing a decline of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a rise to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value for Krishna Nagar is below this median.

• Krishna Industries: Rs 1,100 per sq.ft (2024)
• Kuppusamy Naickar Street: Rs 1,100 per sq.ft (2024)
• Kanniyappan Naickar Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 7th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 6th Street: Rs 1,660 per sq.ft (2024)
• Kanniyamman Nagar 5th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. 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?

The Krishna Nagar area is covered by 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 Vanagaram

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which property can be registered. When buying or selling property in Vanagaram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a reference point for both buyers and sellers. This ensures that all parties are aware of the minimum value for registration purposes, facilitating smoother transactions.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, increased to Rs 1,000 per sq.ft in 2023, and is now Rs 1,100 per sq.ft in 2024.

What is the land classification for Krishna Nagar?

Krishna Nagar is classified as Residential Class IV Type - III under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Krishna Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Krishna Nagar located?

The Sub Registrar Office covering Krishna Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.