Guideline Value for Krishna Nagar 2nd Street

Krishna Nagar 2nd Street guideline value

The current guideline value of Krishna Nagar 2nd Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

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

The guideline value for Krishna Nagar 2nd Street has seen several revisions over the years. Starting from Rs 360 per sq.ft in 2002, it increased to Rs 700 per sq.ft in 2007, marking a significant rise of 94%. In 2012, the value was Rs 3,000 per sq.ft, which was a decrease of 33% from the previous figure. The 2017 revision brought the value up to Rs 2,010 per sq.ft, and by 2023, it reached Rs 3,000 per sq.ft, showing an increase of 49% from 2017. The latest revision in 2024 set the value at Rs 3,301 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figure for Krishna Nagar 2nd Street for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 817%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Krishna Nagar 2nd Street.

• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,301 per sq.ft (2024)
• Krishnamurthy Street @ Bashyam 3rd Street: Rs 3,301 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 3,301 per sq.ft (2024)
• Kolathur Road: Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,301 per sq.ft, the guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 2nd Street?

The Sub Registrar Office that covers Krishna Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the government. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected based on the established values.

Frequently asked questions

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

The current guideline value of Krishna Nagar 2nd Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 817% over the years.

What is the land classification for Krishna Nagar 2nd Street?

The land classification for Krishna Nagar 2nd Street is Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Krishna Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.