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 Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Krishna Nagar 5th Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 385 per sq.ft, which increased significantly to Rs 427 per sq.ft in 2003. This marked a rise of 11%. The value continued to climb, reaching Rs 1,875 per sq.ft in 2007, reflecting a substantial increase of 339%. In 2012, the value was Rs 4,000 per sq.ft, showing a significant jump of 113% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,680 per sq.ft, a drop of 33%. However, it rebounded to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1043%.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the current 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 3rd 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 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 would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for stamp duty and registration fees to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 5th Street?

The Sub Registrar Office that covers Krishna Nagar 5th 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 plays a crucial role in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from 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 has increased significantly from Rs 385 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1043%.

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

Krishna Nagar 5th Street is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Krishna Nagar 5th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,96,000.