Guideline Value for Krishna Nagar 1st Street

Krishna Nagar 1st Street guideline value

The current guideline value of Krishna Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Krishna Nagar 1st Street has changed

The guideline value for Krishna Nagar 1st Street has seen several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 287 per sq.ft. This increased to Rs 322 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,200 per sq.ft in 2007, reflecting a 273% increase. In 2012, the value adjusted to Rs 2,500 per sq.ft, which was a decrease of 33%. The 2017 revision brought the value back up to Rs 1,675 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the current value of Rs 2,800 per sq.ft in 2024 represents a 12% increase from that figure.

There are no figures available for the years not listed in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 876%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is the same as the current value for Krishna Nagar 1st Street.

• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishnayar Street: Rs 2,800 per sq.ft (2024)
• Kubera Munusamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 1st Street?

The Sub Registrar Office that covers Krishna Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ullagaram, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction. This value helps in establishing a fair base for the pricing of properties in the area.

Frequently asked questions

What is the current guideline value of Krishna Nagar 1st Street?

The current guideline value of Krishna Nagar 1st Street is Rs 2,800 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 287 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 876%.

What is the land classification for Krishna Nagar 1st Street?

Krishna Nagar 1st Street falls under the Residential Class II Type - I land classification.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

Where can I find the Sub Registrar Office for Krishna Nagar 1st Street?

The Sub Registrar Office for Krishna Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.