Guideline Value for Krishna Nagar 40 feet Road

Krishna Nagar 40 feet Road guideline value

The current guideline value of Krishna Nagar 40 feet Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Krishna Nagar 40 feet Road has changed

The guideline value for Krishna Nagar 40 feet Road has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. However, the value significantly increased to Rs 3,000 per sq.ft in the 2023 revision, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Krishna Nagar 40 feet Road above this median.

• Krishna Nagar 1st to 4th Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 3,300 per sq.ft (2024)
• Kovalan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 40 feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 40 feet Road?

The Krishna Nagar 40 feet Road falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees, which are mandatory for legalizing property transfers. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Krishna Nagar 40 feet Road?

The current guideline value of Krishna Nagar 40 feet Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the registration office for Krishna Nagar 40 feet Road?

The Selaiyur Sub Registrar Office covers Krishna Nagar 40 feet Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

What is the land classification for Krishna Nagar 40 feet Road?

The land classification for Krishna Nagar 40 feet Road is Residential Special Type - II, which indicates its intended use for residential purposes.