Guideline Value for Krishna Nagar 5th Street

Krishna Nagar 5th Street guideline value

The current guideline value of Krishna Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the jurisdiction of the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Krishna Nagar 5th Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This value increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +10% over the twelve-year period. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

Thus, the only revisions with figures for Krishna Nagar 5th Street are from 2012 and 2024. The increase from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024 reflects the most recent adjustment to the guideline value.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Krishna Nagar 5th Street.

• Krishna Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, leading to a total cost of Rs 3,96,000. 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 5th Street?

The Krishna Nagar 5th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that they are based on the official valuation rather than the negotiated sale price. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Krishna Nagar 5th Street?

The current guideline value of Krishna Nagar 5th 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 increased from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, reflecting a +10% change. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Krishna Nagar 5th Street?

Krishna Nagar 5th Street is classified as Residential Class II Type - II under the Velacheri SRO.

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. Fees are based on the higher of the guideline value or the sale price.

Which office oversees the registration for Krishna Nagar 5th Street?

The Velacheri Sub Registrar Office oversees the registration for Krishna Nagar 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.