Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Devanthavakkam village and falls under the Oothukkottai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Krishna Nagar has changed

In the 2012 revision, the guideline value was set at Rs 80 per sq.ft. This figure saw a decrease to Rs 54 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 85%, bringing it back to Rs 100 per sq.ft. The 2023 revision maintained this value, and the 2024 revision has also set it at Rs 100 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Krishna Nagar. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Devanthavakkam

In Devanthavakkam, there are 12 streets under the Oothukkottai SRO that carry a guideline value of Rs 100 per sq.ft for 2024, with the median also being Rs 100 per sq.ft. Krishna Nagar's 2024 figure aligns with this median.

• Kalaingar Karunanithi Nagar: Rs 100 per sq.ft (2024)
• Eden Garden: Rs 100 per sq.ft (2024)
• Dr.KALAINGAR NAGAR: Rs 100 per sq.ft (2024)
• Balakrishna Avenue: Rs 100 per sq.ft (2024)
• Arunachalanagar-Extni: Rs 100 per sq.ft (2024)
• Thirumailai Nagar: Rs 100 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, totaling Rs 7,000, and the registration fee is 2%, amounting to Rs 2,000. Therefore, the total cost for these fees would be Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Devanthavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration process is in line with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same for 2024.

What is the land classification for Krishna Nagar?

Krishna Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Krishna Nagar?

The Sub Registrar Office covering Krishna Nagar is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is the stamp duty calculated for properties in Krishna Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 100 per sq.ft would incur a stamp duty of Rs 7,000.