Guideline Value for Krishna Nagar 4th Street

Krishna Nagar 4th Street guideline value

The current guideline value of Krishna Nagar 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Krishna Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 385 per sq.ft, which increased to Rs 427 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 750 per sq.ft in 2007, reflecting a 76% increase. By 2012, the value was Rs 4,000 per sq.ft, which represented a 433% increase from 2007. However, it then decreased to Rs 2,680 per sq.ft in 2017, indicating a 33% drop. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1043%. There are no figures available for the revisions in the years not listed above.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Krishna Nagar 4th Street.

• Krishna Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 2nd 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 4th 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 4th Street?

The Sub Registrar Office that covers Krishna Nagar 4th 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Krishna Nagar 4th 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 changed several times, starting from Rs 385 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1043% over the years.

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

For a property valued at 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 property registrations for Krishna Nagar 4th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Krishna Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Where can I find more information about the guideline values in Virugambakkam?

More information about guideline values in Virugambakkam can be found in the guideline value register maintained by the Registration Department, accessible through their official platform.