Guideline Value for Krishna Nagar 4th Cross Street

Krishna Nagar 4th Cross Street guideline value

The current guideline value of Krishna Nagar 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, and it falls under the Mixed Type - II land classification.

How the guideline value of Krishna Nagar 4th Cross Street has changed

The guideline value of Krishna Nagar 4th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 840 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in 2012, marking a 317% increase. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 358%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Krishna Nagar 4th Cross Street above this median.

• Krishna Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 4th Cross Street?

The Krishna Nagar 4th Cross Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buyers and sellers agree on a sale price, the registration office will assess whether the sale price is higher than the guideline value. If the sale price exceeds the guideline value, the stamp duty and registration fees will be calculated based on the sale price.

Frequently asked questions

What is the current guideline value of Krishna Nagar 4th Cross Street?

The current guideline value of Krishna Nagar 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 840 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 358% over this period.

What is the land classification for Krishna Nagar 4th Cross Street?

Krishna Nagar 4th Cross Street is classified as Mixed Type - II land, which indicates a variety of permissible uses for the properties in this area.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,46,500 in fees based on the current guideline value.

Which office handles property registrations for Krishna Nagar 4th Cross Street?

The Pallavaram Sub Registrar Office handles property registrations for Krishna Nagar 4th Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.