Guideline Value for Krishna Nagar 16th Street

Krishna Nagar 16th Street guideline value

The current guideline value of Krishna Nagar 16th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Krishna Nagar 16th Street has changed

The guideline value for Krishna Nagar 16th Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This marked a decline of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,725 per sq.ft, placing Krishna Nagar 16th Street's 2024 figure above this median.

• Krishna Nagar 1st to 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 4th Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 40 feet Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 3,300 per sq.ft (2024)
• Krishna Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Kovalan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 16th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 16th Street?

The Sub Registrar Office that covers Krishna Nagar 16th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. The higher of the guideline value or the sale price is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Krishna Nagar 16th Street?

The current guideline value of Krishna Nagar 16th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced fluctuations, starting at Rs 3,000 per sq.ft in 2012, dropping to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,300 per sq.ft in 2024.

What is the land classification for Krishna Nagar 16th Street?

Krishna Nagar 16th Street is classified as Residential Special Type - II, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 2,97,000.

Where is the Sub Registrar Office for Krishna Nagar 16th Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.