Guideline Value for Krishna Nagar 1st Street

Krishna Nagar 1st Street guideline value

The current guideline value of Krishna Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Residential Special Type - I.

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

The guideline value for Krishna Nagar 1st Street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained stable with a 10% increase. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village features 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Krishna Nagar 1st Street's 2024 figure above this median.

• Krishna Nagar 2nd Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Kaspapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of this value to avoid discrepancies during the registration process.

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a rise of 10%. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

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

Krishna Nagar 1st Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,48,500 based on the current guideline value.

Which office handles the registration for properties in Krishna Nagar 1st Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for properties in Krishna Nagar 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.