Guideline Value for Krishna Nagar 1st to 3rd Cross Street

Krishna Nagar 1st to 3rd Cross Street guideline value

The current guideline value of Krishna Nagar 1st to 3rd Cross 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 1st to 3rd Cross Street has changed

The guideline value for Krishna Nagar 1st to 3rd Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,010 per sq.ft. Following that, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

Between 2012 and 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

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 1st to 3rd Cross Street above this median.

• Krishna Nagar 1st to 4th Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 16th Street: 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 1st to 3rd Cross 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 cost for these fees to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 1st to 3rd Cross Street?

The Sub Registrar Office that covers Krishna Nagar 1st to 3rd Cross 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, 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 Perumbakkam

The guideline value is a crucial factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standard valuation of the property.

When buying or selling property, the guideline value helps in determining the legal obligations regarding fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar 1st to 3rd Cross Street?

The current guideline value of Krishna Nagar 1st to 3rd Cross 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Krishna Nagar 1st to 3rd Cross Street?

The land classification for Krishna Nagar 1st to 3rd Cross Street is Residential Special Type - II.

Where is the Selaiyur Sub Registrar Office 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,97,000.