Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar in Okkiyamthuraipakkam village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 111 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. Following this, there was a substantial rise to Rs 1,500 per sq.ft in 2012, but it then dropped to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,700 per sq.ft in 2024.

Between revisions, the changes were notable. From 2003 to 2007, there was a 125% increase, followed by a 500% increase from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023 and increased by 13% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1432%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Krishna Nagar's 2024 figure is below this median.

• Krishnan Nagar Arul Avenue: Rs 1,700 per sq.ft (2024)
• Kokilambal Nagar: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 6th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 5th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 4th NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 3rd NAGAR: Rs 1,700 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 1,700 per sq.ft, the total 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, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar?

The Krishna Nagar area 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 Okkiyamthuraipakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the associated duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar 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 111 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1432% over this period.

What is the land classification for Krishna Nagar?

Krishna Nagar falls under Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot at the guideline value, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.