Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 500 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Krishna Nagar has changed

Over the years, the guideline value for Krishna Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision recorded a lower value of Rs 335 per sq.ft, marking a decrease of 33% from 2012. The most recent revision in 2024 maintained the value at Rs 500 per sq.ft, reflecting no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. Overall, comparing the values from 2012 to 2024, there has been no net change, as the value has returned to its original figure from 2012.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. Krishna Nagar's 2024 guideline value is below this median.

• Karumari Nagar: Rs 700 per sq.ft (2024)
• Karumariamman Nagar: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)
• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Perumattu Nellore. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duties. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring that all transactions are accurately recorded and taxed.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Krishna Nagar?

Krishna Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 45,000 in fees based on the current guideline value.

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

The Chengleput Joint II Sub Registrar Office, which covers Krishna Nagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.