Guideline Value for Krishna Nagar 3rd Street

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar 3rd Street has changed

The guideline value for Krishna Nagar 3rd Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 287 per sq.ft. This increased significantly to Rs 322 per sq.ft in 2003, marking a 12% rise. The value then saw a remarkable increase of 273% to reach Rs 1,200 per sq.ft in 2007. In 2012, the guideline value was Rs 2,500 per sq.ft, which represented a 108% increase from the previous revision.

From 2012 to 2017, the value decreased by 33%, bringing it down to Rs 1,675 per sq.ft. However, a substantial increase of 49% was observed from 2017 to 2023, where the value rose to Rs 2,500 per sq.ft. The most recent revision in 2024 saw the guideline value increase by 12% to Rs 2,800 per sq.ft. There are no figures available for any other revisions for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. Krishna Nagar 3rd Street's 2024 guideline value aligns perfectly with this median.

• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main: Rs 2,800 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishnayar Street: Rs 2,800 per sq.ft (2024)
• Kubera Munusamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees together Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Sub Registrar Office that covers Krishna Nagar 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the value of the property for stamp duty and registration fees. Buyers and sellers must ensure that the transaction value aligns with or exceeds the guideline value to comply with legal requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Krishna Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 287 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 876% over the years.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for the value of the property being bought or sold.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Ullagaram with the same guideline value?

Other streets in Ullagaram with the same guideline value of Rs 2,800 per sq.ft include Krishna Nagar 1st Street, Krishna Nagar 2nd Street, Krishna Nagar Main, Krishna Nagar Main Road, and Krishnayar Street.