Guideline Value for Krishna Nagar /2nd Cross Street

Krishna Nagar /2nd Cross Street guideline value

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

How the guideline value of Krishna Nagar /2nd Cross Street has changed

The guideline value for Krishna Nagar /2nd Cross Street has seen significant changes over the years. In 2002, the value was Rs 294 per sq.ft. This increased to Rs 335 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 575 per sq.ft in 2007, which was a 72% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,541 per sq.ft, reflecting a remarkable 168% increase from 2007. The next revision in 2023 set the value at Rs 2,300 per sq.ft, a 49% increase from 2017. The current value of Rs 2,530 per sq.ft in 2024 represents a 10% increase from 2023.

It is important to note that there is no figure recorded for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 761%.

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 guideline value for these streets is Rs 2,090 per sq.ft, placing Krishna Nagar /2nd Cross Street above this median.

• Krishna Nagar, 1st Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 3rd Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 1st Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 4th Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar / 5th Cross Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar, 5th Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar /2nd 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, and the registration fee at 2% would be Rs 50,600, totaling 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.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Krishna Nagar /2nd Cross Street?

The Sub Registrar Office covering Krishna Nagar /2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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 buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions comply with local regulations.

Additionally, the guideline value serves as a benchmark for property valuation, helping buyers and sellers understand the market standards. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Krishna Nagar /2nd Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 294 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 761% over this period.

What is the stamp duty for property in Krishna Nagar /2nd Cross Street?

The stamp duty for property in Krishna Nagar /2nd Cross Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100.

Where is the Sub Registrar Office for Krishna Nagar /2nd Cross Street located?

The Sub Registrar Office for Krishna Nagar /2nd Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the land classification of Krishna Nagar /2nd Cross Street?

Krishna Nagar /2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.