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 Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III 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. In 2002, the guideline value was Rs 578 per sq.ft, which increased to Rs 640 per sq.ft in 2003, marking an 11% rise. Following this, the value saw a significant increase to Rs 1,100 per sq.ft in 2007, reflecting a 72% change. The value then surged to Rs 4,000 per sq.ft in 2012, showing a remarkable 264% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, representing a 33% decline. The value then rose again to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 has brought it to Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the guideline value for Krishna Nagar 3rd Street for the years not mentioned in the revisions. The overall change from 2002 to 2024 has been an increase of 661%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline 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 1st Street: Rs 4,950 per sq.ft (2024)
• K.K.Nagar 9th Sector 53rd Street: Rs 7,150 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. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Virugambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with the local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. Understanding the guideline value helps in making informed decisions regarding property transactions.

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 seen several changes, starting from Rs 578 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 661% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Krishna Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for Krishna Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The land classification for Krishna Nagar 3rd Street is Residential Class III Type - I, indicating its designation for residential use.