Guideline Value for Krishna Nagar 7 th St

Krishna Nagar 7 th St guideline value

The current guideline value of Krishna Nagar 7 th St is Rs 4,400 per sq.ft. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Krishna Nagar 7 th St has changed

The guideline value for Krishna Nagar 7 th St has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 4,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,680 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, and then further rose to Rs 4,400 per sq.ft in the 2024 revision.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. In contrast, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase, indicating a steady rise in the guideline value over the years.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, positioning Krishna Nagar 7 th St above this median.

• Krishna Nagar 7 th Cross St: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 8 th St: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th St: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 5th St: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 4 th St: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 7 th St

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to 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, totaling 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 7 th St?

The Sub Registrar Office that covers Krishna Nagar 7 th St 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling a property, it is essential to consider the guideline value, as it can impact the overall costs involved in the transaction. Buyers and sellers should ensure they are aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Krishna Nagar 7 th St?

The current guideline value of Krishna Nagar 7 th St 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 from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What is the land classification for Krishna Nagar 7 th St?

The land classification for Krishna Nagar 7 th St is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total fees would amount to Rs 3,96,000.

Which office handles registrations for properties in Krishna Nagar 7 th St?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties in Krishna Nagar 7 th St, located at No.26, MES Road, East Tambaram, Chennai-600059.