Guideline Value for Krishna Nagar 5th Street

Krishna Nagar 5th Street guideline value

The current guideline value of Krishna Nagar 5th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value for Krishna Nagar 5th Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. However, the value increased significantly in 2023 to Rs 1,500 per sq.ft, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a notable decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Krishna Nagar 5th Street's 2024 figure above the median.

• Krishna Nagar 6th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Thus, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 5th Street?

The Sub Registrar Office that covers Krishna Nagar 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kaspapuram. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees payable at the time of registration. Buyers should be aware that the guideline value can affect the overall cost of purchasing property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be familiar with the current guideline value for accurate financial planning.

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable changes in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the median guideline value in Kaspapuram?

The median guideline value in Kaspapuram is Rs 1,100 per sq.ft, with Krishna Nagar 5th Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Krishna Nagar 5th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers Krishna Nagar 5th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.