Guideline Value for KRISHNAN NAGAR

Krishnan Nagar guideline value

The current guideline value of Krishnan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Krishnan Nagar has changed

Since the 2012 revision, the guideline value for Krishnan Nagar has seen a change of 7%, moving from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024. The 2023 revision also recorded a value of Rs 1,500 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2017. Therefore, the only revisions available for this street are from 2012, 2023, and 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Krishnan Nagar's 2024 figure below that median.

• K.S.Nagar: Rs 1,600 per sq.ft (2024)
• Krishnamachari Naidu Street: Rs 1,600 per sq.ft (2024)
• K.P.R. Nagar: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar Extn: Rs 2,700 per sq.ft (2024)
• Kumarasamy Colony: Rs 2,100 per sq.ft (2024)
• Kuppu Reddy Nagar 'devadoss Street': Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnan Nagar?

The Sub Registrar Office that covers Krishnan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

It is important for buyers and sellers to be aware of the guideline value as it can influence the overall cost of the transaction. The guideline value is determined by the Registration Department and is periodically revised to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Krishnan Nagar?

The current guideline value of Krishnan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2012 to 2024, the guideline value increased by 7%, from Rs 1,500 per sq.ft to Rs 1,600 per sq.ft. The 2023 revision also recorded Rs 1,500 per sq.ft, indicating no change from the previous year.

What is the land classification of Krishnan Nagar?

Krishnan Nagar is classified as Residential Class III Type - III. This classification is important for understanding the type of development permitted in the area.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Which office handles registrations for Krishnan Nagar?

The Villivakkam Sub Registrar Office handles registrations for Krishnan Nagar. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.