Guideline Value for Krishna Nagar 3rd Street

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram 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 2003 revision, the value was Rs 218 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, followed by a substantial rise to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and a further rise to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the years, the changes in the guideline value reflect various fluctuations. From 2003 to 2007, the value rose by 175%, followed by a remarkable increase of 317% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and subsequently, there was a significant increase of 49% from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by 1161%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Krishna Nagar 3rd Street's 2024 figure is below this median.

• Krishna Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar Harijan Colony: Rs 2,750 per sq.ft (2024)
• Krishnapuram: Rs 2,750 per sq.ft (2024)
• Krishnaswamy Street: Rs 3,850 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Krishna Nagar 3rd Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is bought or sold, the guideline value is used to calculate the applicable duties. It is essential to consider that the stamp duty is charged based on the higher value between the guideline value and the sale price, ensuring that all transactions are appropriately valued according to the regulations set forth by the Registration Department.

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 2,750 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 218 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, with various increases and decreases in between.

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

Krishna Nagar 3rd Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Krishna Nagar 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty for properties in Krishna Nagar 3rd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty of Rs 1,92,500.