Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar is Rs 1,160 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 469 per sq.ft. This figure increased significantly to Rs 1,050 per sq.ft in 2023, marking a change of 124%. The latest revision in 2024 saw the value rise to Rs 1,160 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 147%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Krishna Nagar's 2024 figure above this median.

• K.K. Nagar: Rs 3,300 per sq.ft (2024)
• Kavina Garden: Rs 3,300 per sq.ft (2024)
• Lilly Nagar: Rs 1,100 per sq.ft (2024)
• Mahatma Gandhi Cross Street: Rs 440 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 440 per sq.ft (2024)
• Mahatma Gandhi Street ( Continued ): Rs 440 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 1,160 per sq.ft, the total guideline value would be Rs 11,60,000. The stamp duty at 7% would amount to Rs 81,200, and the registration fee at 2% would be Rs 23,200, making the total cost for these fees Rs 1,04,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value is a crucial factor in property transactions in Vengambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When purchasing property, the guideline value affects the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives 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 1,160 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 1,160 per sq.ft in 2024, representing a total increase of 147% over this period.

What is the classification of land in Krishna Nagar?

Krishna Nagar is classified as Residential Class I Type - I according to the guidelines set by the registration department.

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

The Tambaram Joint 1 Sub Registrar Office, which covers Krishna Nagar, is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 1,04,400.