Guideline Value for Krishna Nagar 3rd Cross Street

Krishna Nagar 3rd Cross Street guideline value

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

The guideline value for Krishna Nagar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 840 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 317%. However, it then decreased to Rs 2,345 per sq.ft in 2017, representing a drop of 33%. The value saw a substantial increase to Rs 3,500 per sq.ft in 2023, followed by another increase to the current rate of Rs 3,850 per sq.ft in 2024, which is a 10% rise from the previous year.

It is important to note that there are no recorded figures for Krishna Nagar 3rd Cross Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Krishna Nagar 3rd Cross Street's current value above this median.

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

Stamp duty and registration fee for property in Krishna Nagar 3rd 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 is charged at 7%, which totals Rs 2,69,500, while the registration fee at 2% amounts to Rs 77,000. Therefore, the total cost for stamp duty and registration fees together is 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Nagar 3rd Cross Street?

The Krishna Nagar 3rd Cross Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Hastinapuram. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the minimum value for registration purposes. This means that if the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Krishna Nagar 3rd Cross Street?

The current guideline value of Krishna Nagar 3rd 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 seen several revisions, starting from Rs 840 per sq.ft in 2007, increasing to Rs 3,500 in 2012, dropping to Rs 2,345 in 2017, then rising to Rs 3,500 in 2023, and finally reaching Rs 3,850 in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty at 7% amounts to Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Krishna Nagar 3rd Cross Street?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, handles registrations for Krishna Nagar 3rd Cross Street.

What is the land classification for Krishna Nagar 3rd Cross Street?

Krishna Nagar 3rd Cross Street is classified as Mixed Type - II land, which reflects its varied usage potential.