Guideline Value for Krishna Nagar 2nd Cross Street

Krishna Nagar 2nd Cross Street guideline value

The current guideline value of Krishna Nagar 2nd Cross Street is Rs 3,850 per sq.ft. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Krishna Nagar 2nd Cross Street has changed

The guideline value for Krishna Nagar 2nd Cross Street has seen several revisions over the years. In 2007, the value was Rs 840 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this figure dropped by 33% to Rs 2,345 per sq.ft in 2017. The value then rose sharply to Rs 3,500 per sq.ft in 2023, and most recently, it has increased by 10% to the current rate of Rs 3,850 per sq.ft effective from 1 July 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 358%. The changes between the revisions show a substantial rise in value, particularly from 2012 to 2017 and again from 2017 to 2023, indicating fluctuations in the guideline value over time.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Krishna Nagar 2nd Cross Street's 2024 figure above the median.

• Krishna Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Krishna Nagar 2nd Cross Street?

The Krishna Nagar 2nd Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a crucial factor when registering property transactions in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value as per the government's assessment.

When buying or selling a property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are duly recorded and taxed appropriately.

Frequently asked questions

What is the current guideline value of Krishna Nagar 2nd Cross Street?

The current guideline value of Krishna Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 840 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 358% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with Krishna Nagar 2nd Cross Street's 2024 figure being above this median.

Where can I find the Sub Registrar Office for Krishna Nagar 2nd Cross Street?

The Sub Registrar Office covering Krishna Nagar 2nd Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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 property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.