Guideline Value for Krishna Nagar / 4th Cross Street

Krishna Nagar / 4th Cross Street guideline value

The current guideline value for Krishna Nagar / 4th Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar / 4th Cross Street has changed

The guideline value for Krishna Nagar / 4th Cross Street has seen significant changes over the years. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 335 per sq.ft in 2003. The value continued to rise, reaching Rs 650 per sq.ft in 2007, and then Rs 1,541 per sq.ft in 2017. The 2023 revision set the value at Rs 2,300 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,530 per sq.ft. Notably, there is no figure recorded for this street in 2012.

When looking at the percentage changes, from 2002 to 2024, the overall increase is a substantial 761%. The most recent change from 2023 to 2024 reflects a 10% increase. The increase from 2017 to 2023 was 49%, while the jump from 2007 to 2017 was 137%. Additionally, the value rose by 94% from 2003 to 2007, and by 14% from 2002 to 2003.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, making the guideline value for Krishna Nagar / 4th Cross Street above this median.

• Krishna Nagar / 5th Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar ,5th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 3rd Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar ,6th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar /2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar, 1st Street,: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar / 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar / 4th Cross Street?

The Krishna Nagar / 4th Cross Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO online for more details.

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which properties can be registered. When a buyer purchases a property, the registration office uses this guideline value to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to legal requirements.

In addition to serving as a basis for fees, the guideline value reflects the official valuation of properties in the area. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating the necessary charges at registration.

Frequently asked questions

What is the current guideline value for Krishna Nagar / 4th Cross Street?

The current guideline value for Krishna Nagar / 4th Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 294 per sq.ft to Rs 2,530 per sq.ft in 2024. The most notable increase occurred between 2007 and 2017, where the value rose by 137%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft. Krishna Nagar / 4th Cross Street's guideline value is above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 2,27,700.

Which office should I visit for registration in Pammal?

The Pammal Sub Registrar Office covers Krishna Nagar / 4th Cross Street. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.