Guideline Value for KRISHNAMURTHI NAGAR

Krishnamurthi Nagar guideline value

The current guideline value of Krishnamurthi Nagar is Rs 601 per sq.ft, effective from 1 July 2024. This area is located in Thirumani village and falls under the Chengleput Joint I SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Krishnamurthi Nagar has changed

In the 2017 revision, the guideline value was Rs 402 per sq.ft. This figure increased to Rs 600 per sq.ft in the 2023 revision, marking a significant rise of 49% over six years. The current 2024 revision shows a slight increase to Rs 601 per sq.ft, which is a change of 0% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%. The consistent increase in the guideline value reflects the changes in property valuation over the years.

Guideline values in Thirumani

In Thirumani, there are seven streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 400 to Rs 601 per sq.ft. The median value for these streets is Rs 500 per sq.ft, and Krishnamurthi Nagar's 2024 figure is above this median.

• Malar Avenue: Rs 400 per sq.ft (2024)
• PTN EnClave: Rs 500 per sq.ft (2024)
• Annai Sathya Nagar: Rs 500 per sq.ft (2024)
• SathyaGiraganagar: Rs 601 per sq.ft (2024)
• Sri Sai Garden: Rs 601 per sq.ft (2024)
• Thirumalai Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnamurthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 601 per sq.ft, the total guideline value is Rs 6,01,000. The stamp duty at 7% would amount to Rs 42,070, and the registration fee at 2% would be Rs 12,020, making the total cost for these fees Rs 54,090. 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 Krishnamurthi Nagar?

The Sub Registrar Office that covers Krishnamurthi Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Thirumani

The guideline value is a crucial factor when registering property transactions in Thirumani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and in line with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Krishnamurthi Nagar?

The current guideline value of Krishnamurthi Nagar is Rs 601 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, and then to Rs 601 per sq.ft in 2024. This represents a 50% increase from 2017 to 2024.

What are the other streets in Thirumani with their guideline values?

Other streets in Thirumani include Malar Avenue at Rs 400 per sq.ft, PTN EnClave and Annai Sathya Nagar at Rs 500 per sq.ft, and SathyaGiraganagar and Sri Sai Garden at Rs 601 per sq.ft.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.

How is stamp duty calculated in Krishnamurthi Nagar?

Stamp duty in Krishnamurthi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.