Guideline Value for Krishna Nagar 1st to 4th Main Road

Krishna Nagar 1st to 4th Main Road guideline value

The current guideline value for Krishna Nagar 1st to 4th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Krishna Nagar 1st to 4th Main Road has changed

The guideline value for Krishna Nagar 1st to 4th Main Road has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a significant decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, before rising again to the current value of Rs 3,300 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in the current guideline value of Rs 3,300 per sq.ft. Overall, from 2012 to 2024, the value has increased by 10%.

Guideline values in Perumbakkam

In Perumbakkam, 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, with a median value of Rs 2,725 per sq.ft. The guideline value for Krishna Nagar 1st to 4th Main Road is above this median.

• Krishna Nagar 1st to 3rd Cross Street: 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 Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: 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 4th Main Road

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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 1st to 4th Main Road?

The Krishna Nagar 1st to 4th Main Road falls under the jurisdiction of 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Krishna Nagar 1st to 4th Main Road?

The current guideline value for Krishna Nagar 1st to 4th Main Road 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Krishna Nagar 1st to 4th Main Road?

The land classification for Krishna Nagar 1st to 4th Main Road is Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total fees would be Rs 2,97,000.

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.