Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Kumaravadi village under the Salavakkam SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - V.

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 150 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 150 per sq.ft. The 2017 revision marked a decrease to Rs 100 per sq.ft, which was a 33% drop from the previous figure. From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 150 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

As of the 2024 revision, the guideline value remains at Rs 150 per sq.ft, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed, maintaining the same rate of Rs 150 per sq.ft.

Guideline values in Kumaravadi

In Kumaravadi, five streets under the Salavakkam SRO have a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft, with a median value of Rs 151 per sq.ft. Krishna Nagar's guideline value is below this median.

• Kurunji Nagar: Rs 151 per sq.ft (2024)
• Muthu Nagar: Rs 151 per sq.ft (2024)
• Police Staff Residency: Rs 151 per sq.ft (2024)
• Amber: Rs 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kumaravadi. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a drop to Rs 100 per sq.ft in 2017, followed by a return to Rs 150 per sq.ft in 2023. The 2024 revision also maintains this rate.

What are the other streets in Kumaravadi with guideline values?

Other streets in Kumaravadi include Kurunji Nagar, Muthu Nagar, Police Staff Residency, and Amber, with values ranging from Rs 151 to Rs 700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Krishna Nagar?

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Krishna Nagar located?

The Salavakkam Sub Registrar Office, which covers Krishna Nagar, is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.