Guideline Value for Krishna Nagar 2nd Main Road

Krishna Nagar 2nd Main Road guideline value

The current guideline value of Krishna Nagar 2nd Main Road in Kaspapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Krishna Nagar 2nd Main Road has changed

The guideline value for Krishna Nagar 2nd Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. The overall change from the 2012 revision to the 2024 revision is a 10% increase.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, and there are no figures available for the years 2002, 2003, and 2007 for this street as per the register.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, positioning Krishna Nagar 2nd Main Road above the median with its current rate.

• Krishna Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 1st 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 2nd Main Road

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, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishna Nagar 2nd Main Road?

The Krishna Nagar 2nd Main Road is covered by 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Krishna Nagar 2nd Main Road?

The current guideline value for Krishna Nagar 2nd Main Road 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a drop to Rs 1,005 per sq.ft in 2017.

What are the other streets in Kaspapuram with similar guideline values?

Other streets in Kaspapuram with the same guideline value of Rs 1,650 per sq.ft include Krishna Nagar 1st Street, Krishna Nagar 2nd Street, Krishna Nagar 3rd Street, Krishna Nagar 4th Street, Krishna Nagar 5th Street, and Krishna Nagar 6th Street.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Krishna Nagar 2nd Main Road is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Krishna Nagar 2nd Main Road is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.