Guideline Value for Krishna Nagar 2nd st ( Ward No.23 )

Krishna Nagar 2nd st ( Ward No.23 ) guideline value

The current guideline value for Krishna Nagar 2nd st ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar 2nd st ( Ward No.23 ) has changed

The guideline value for Krishna Nagar 2nd st has seen several revisions over the years. The earliest available revision is from 2012, where the value was set at Rs 2,000 per sq.ft. In the 2024 revision, this figure increased to Rs 2,200 per sq.ft, marking a 10% increase from the 2012 value.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street. Thus, the only revisions affecting the guideline value are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Krishna Nagar 2nd st ( Ward No.23 ) is above this median.

• Krishna Nagar Extension: Rs 2,200 per sq.ft (2024)
• Krishna Nagar , Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Roads ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar ( Ward No.8 ): Rs 2,200 per sq.ft (2024)
• Krishnappan St (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 2nd st ( Ward No.23 )

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Nagar 2nd st ( Ward No.23 )?

The Sub Registrar Office that covers Krishna Nagar 2nd st ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duties payable. The guideline value serves as a benchmark for the minimum value at which properties must be registered.

It is essential to be aware that the registration fees and stamp duties are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Krishna Nagar 2nd st ( Ward No.23 )?

The current guideline value for Krishna Nagar 2nd st ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Krishna Nagar 2nd st was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

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

Krishna Nagar 2nd st is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for a property in Krishna Nagar 2nd st?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Krishna Nagar 2nd st located?

The Sub Registrar Office covering Krishna Nagar 2nd st is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office is responsible for property registrations in the area.