Guideline Value for Krishna Nagar ( Ward No.8 )

Krishna Nagar ( Ward No.8 ) guideline value

The current guideline value for Krishna Nagar ( Ward No.8 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar ( Ward No.8 ) has changed

The guideline value for Krishna Nagar ( Ward No.8 ) has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. From 2012 to the 2024 revision, there has been an increase of 10%, bringing the current value to Rs 2,200 per sq.ft. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This reflects a notable change in the valuation of properties in this area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this village is Rs 1,600 per sq.ft, placing Krishna Nagar ( Ward No.8 ) above this median with its current value of Rs 2,200 per sq.ft.

• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Roads ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Krishna Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension: Rs 2,200 per sq.ft (2024)
• Krishnappan St (Ward-02): Rs 1,300 per sq.ft (2024)
• Krishnappan st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar ( Ward No.8 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar ( Ward No.8 )?

The Sub Registrar Office that covers Krishna Nagar ( Ward No.8 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value is considered the minimum value for property transactions.

When registering a property, the guideline value ensures that transactions are recorded at a fair value, preventing undervaluation. This process helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Krishna Nagar ( Ward No.8 )?

The current guideline value of Krishna Nagar ( Ward No.8 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Krishna Nagar ( Ward No.8 )?

Krishna Nagar ( Ward No.8 ) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with Krishna Nagar ( Ward No.8 ) being above this median at Rs 2,200 per sq.ft.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.