Guideline Value for Krishna Nagar 3rd Street

Krishna Nagar 3rd Street guideline value

The current guideline value of Krishna Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

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

The guideline value for Krishna Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,650 per sq.ft in the 2024 revision, 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 increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Krishna Nagar 3rd Street's 2024 figure above the median.

• Krishna Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to 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 to estimate your costs.

Which Sub Registrar Office covers Krishna Nagar 3rd Street?

The Sub Registrar Office that covers Krishna Nagar 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kaspapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

During the registration of a property, the authorities will assess the guideline value to ensure that the appropriate taxes are levied. This ensures transparency and compliance with legal requirements in 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

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

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Krishna Nagar 3rd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Krishna Nagar 3rd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.