Guideline Value for KRISHNAMBAL NAGAR

Krishnambal Nagar guideline value

The current guideline value of Krishnambal Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This locality is part of Kolumanivakkam village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Krishnambal Nagar has changed

The guideline value for Krishnambal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, before reaching the current value of Rs 990 per sq.ft in 2024. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the dip observed between 2012 and 2017.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,290 per sq.ft. The median guideline value in this area is Rs 1,350 per sq.ft, placing Krishnambal Nagar's 2024 figure below this median.

• Kuberan Nagar: Rs 1,210 per sq.ft (2024)
• Kumari Nagar: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar / Annexe: Rs 1,210 per sq.ft (2024)
• Mahalakshmi Nagar Annexe II: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar Annexe III: Rs 2,630 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. 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 on calculating these fees.

Which Sub Registrar Office covers Krishnambal Nagar?

The Sub Registrar Office that covers Krishnambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor when buying or selling property in Kolumanivakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When engaging in a property transaction, buyers and sellers must be aware of the guideline value to ensure compliance with local regulations. The registration process relies heavily on this value to assess the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Krishnambal Nagar?

The current guideline value of Krishnambal Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Krishnambal Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office is responsible for Krishnambal Nagar?

The Kunrathur Sub Registrar Office is responsible for Krishnambal Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Krishnambal Nagar?

The land classification for Krishnambal Nagar is Residential Special Type - II.