Guideline Value for Krishna Nagar / Arul Murugan Nagar Extn

Krishna Nagar / Arul Murugan Nagar Extn guideline value

The current guideline value of Krishna Nagar / Arul Murugan Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madipakkam-1 village and is governed by the Velacheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Krishna Nagar / Arul Murugan Nagar Extn has changed

The guideline value register has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Krishna Nagar / Arul Murugan Nagar Extn. The only revision available is from 2024, which sets the guideline value at Rs 2,200 per sq.ft.

Since there are no figures available for the previous years, the only change noted is the current 2024 figure. There have been no changes in the guideline value between the revisions listed above.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Krishna Nagar / Arul Murugan Nagar Extn below this median.

• Krishna Nagar Extension 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 2nd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 3rd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar / Arul Murugan Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar / Arul Murugan Nagar Extn?

The Krishna Nagar / Arul Murugan Nagar Extn area is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth, thus facilitating transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Krishna Nagar / Arul Murugan Nagar Extn?

The current guideline value of Krishna Nagar / Arul Murugan Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

Have there been any changes in the guideline value for this street?

There have been no changes in the guideline value for Krishna Nagar / Arul Murugan Nagar Extn between the revisions listed. The only available figure is from 2024.

What is the land classification for Krishna Nagar / Arul Murugan Nagar Extn?

The land classification for Krishna Nagar / Arul Murugan Nagar Extn is Residential Class II Type - I.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.