Guideline Value for Krishna Nagar 3rd Street

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is 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 been recorded only in the 2024 revision, which is Rs 2,200 per sq.ft. The register has no figures for the years 2023, 2017, 2012, 2007, 2003, and 2002 for this street.

As there are no changes between the revisions mentioned above, the guideline value has been consistent since the 2024 revision. The absence of figures for the previous years indicates that the street has not been assessed for guideline value in those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Krishna Nagar 3rd Street's guideline value of Rs 2,200 per sq.ft is below this median.

• Krishna Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar / Arul Murugan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 2nd 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 2,200 per sq.ft, the total 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, bringing the total to Rs 1,98,000. It is important to note that 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 Street?

The Krishna Nagar 3rd Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps calculate applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

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 2,200 per sq.ft, effective from 1 July 2024.

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

The land classification for Krishna Nagar 3rd Street is Residential Class II Type - I.

Are there any previous guideline values recorded for Krishna Nagar 3rd Street?

The register has no figures for Krishna Nagar 3rd Street for the years 2023, 2017, 2012, 2007, 2003, and 2002.

How is stamp duty calculated for properties in Krishna Nagar 3rd Street?

Stamp duty for properties in Krishna Nagar 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where can I find the Sub Registrar Office for Krishna Nagar 3rd Street?

The Sub Registrar Office covering Krishna Nagar 3rd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.