Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Morapakkam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Krishna Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged in the subsequent 2017 revision, where it was adjusted to Rs 134 per sq.ft, marking a decrease of 33%. The value then increased by 49% to Rs 200 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Morapakkam

In Morapakkam, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with the median value being Rs 200 per sq.ft. Krishna Nagar's 2024 guideline value aligns perfectly with this median.

• Krishna Avenue Ext - I: Rs 200 per sq.ft (2024)
• Krishna Avenue Extension-I: Rs 200 per sq.ft (2024)
• J K Avenue: Rs 200 per sq.ft (2024)
• High Quality City: Rs 100 per sq.ft (2024)
• Roja Nagar Part -I: Rs 100 per sq.ft (2024)
• Roja Nagar Part -II: 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Nagar?

The Krishna Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Morapakkam. It serves as the basis for calculating the stamp duty and registration fees that need to 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 is used to determine the applicable fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions showing no change from 2023 to 2024. The value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification for Krishna Nagar?

Krishna Nagar falls under the Residential Special Type - I land classification, which is relevant for determining the guideline value.

Where can I find the registration office for Krishna Nagar?

The registration office for Krishna Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Krishna Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at a rate of 7%.