Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 3,080 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Krishna Nagar has changed

Over the years, the guideline value of Krishna Nagar has seen several revisions. The 2012 revision set the value at Rs 2,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,876 per sq.ft. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then rose again to the current figure of Rs 3,080 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, the value from 2012 to 2017 saw a decrease of 33%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Krishna Nagar's current value above this median.

• Krishna Colony: Rs 1,080 per sq.ft (2024)
• Kula Street: Rs 1,080 per sq.ft (2024)
• Kumaran Colony: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 2,530 per sq.ft (2024)
• Kumaran Nagar Saroja Ammal Street: Rs 2,530 per sq.ft (2024)
• Kirupanandhavariyar Avenue: Rs 2,200 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 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total fees together to Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishna Nagar?

The Krishna Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kilkattalai. It serves as a benchmark to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has seen several changes, including a decrease in 2017 and increases in subsequent years, with the latest value being Rs 3,080 per sq.ft in 2024.

What is the land classification for Krishna Nagar?

The land classification for Krishna Nagar is Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Krishna Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Krishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600 at 7%.