Guideline Value for Krishna Nagar 1st Street

Krishna Nagar 1st Street guideline value

The current guideline value of Krishna Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class IV Type - II.

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

The guideline value for Krishna Nagar 1st Street has seen significant changes over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision, marking a substantial rise of 275%. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2023, 2017, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which indicates that Krishna Nagar 1st Street's 2024 figure is below the median.

• Krishnan 2nd Street: Rs 2,700 per sq.ft (2024)
• Krishna Murthy Street: Rs 3,300 per sq.ft (2024)
• Krishnan Street Block 62 (W.M): Rs 5,500 per sq.ft (2024)
• Kovalan Street (Pari Nagar): Rs 4,400 per sq.ft (2024)
• Kothandaramasamy Koil South Street: Rs 3,300 per sq.ft (2024)
• K.R. Ramasamy Street: Rs 3,300 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 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Krishna Nagar 1st Street?

The Sub Registrar Office that covers Krishna Nagar 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313%.

What are the stamp duty and registration fees for property in Krishna Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Krishna Nagar 1st Street?

The Ashok Nagar Sub Registrar Office covers Krishna Nagar 1st Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

The land classification for Krishna Nagar 1st Street is Residential Class IV Type - II.