Guideline Value for Krishna Nagar 1st Street

Krishna Nagar 1st Street guideline value

The current guideline value of Krishna Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

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

The guideline value register shows no figures for Krishna Nagar 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no figures available for the previous revisions, there have been no changes in the guideline value for this street between the revisions listed.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values 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 1st Street's 2024 figure below that median.

• Krishna Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar / Arul Murugan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 1st 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to ensure compliance with legal requirements during registration.

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 2,200 per sq.ft, effective from 1 July 2024.

What land classification does Krishna Nagar 1st Street fall under?

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

Have there been any changes in the guideline value for Krishna Nagar 1st Street?

There have been no changes in the guideline value for Krishna Nagar 1st Street, as the register shows no figures for previous revisions, and the only available figure is from 2024.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Krishna Nagar 1st Street's 2024 figure being below this median.

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.