Guideline Value for KRISHNA NAGAR

Krishna Nagar guideline value

The current guideline value of Krishna Nagar is Rs 250 per sq.ft, effective from 1 July 2024. It is located in Malliyankaranai village under the Uthiramerur SRO, classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 167 per sq.ft, a drop of 33% from the previous figure. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. The current 2024 revision maintains this value, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 250 per sq.ft.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that have a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft, with a median value of Rs 401 per sq.ft. Krishna Nagar's 2024 figure is below this median.

• Kg Rakesh Nagar: Rs 402 per sq.ft (2024)
• Magendira Nagar: Rs 401 per sq.ft (2024)
• Mahendra Avenu: Rs 250 per sq.ft (2024)
• Malliyankaranai: Rs 200 per sq.ft (2024)
• Malliyankaranai Madura Manikanatham: Rs 250 per sq.ft (2024)
• Iyappa Nagar: Rs 401 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Malliyankaranai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the agreed sale price, and the higher amount will be used for calculating the applicable duties.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a reduction to Rs 167 per sq.ft in 2017 before returning to Rs 250 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What other streets in Malliyankaranai have guideline values?

Other streets in Malliyankaranai have varying guideline values, ranging from Rs 200 to Rs 603 per sq.ft. Notable streets include Kg Rakesh Nagar at Rs 402 per sq.ft and Magendira Nagar at Rs 401 per sq.ft.

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. The registration fee is charged at 2% of the same amount.

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

The Sub Registrar Office for Krishna Nagar is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.