Guideline Value for Krishna Nagar 3rd Street

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

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. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the latest 2024 revision raised it further to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Krishna Nagar 3rd Street.

• Krishna Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 8th Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. Please 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 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 Velachery

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Krishna Nagar 3rd Street?

The stamp duty rate for properties in Krishna Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is also the current value for Krishna Nagar 3rd Street.