Guideline Value for Krishna Nagar 7th Street

Krishna Nagar 7th Street guideline value

The current guideline value of Krishna Nagar 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Krishna Nagar 7th Street has seen revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. In the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, marking a change of +10% from the previous figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Thus, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Velachery

In Velachery, there are a total of 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 guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for Krishna Nagar 7th Street.

• Krishna Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 7th 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, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishna Nagar 7th Street?

The Sub Registrar Office that covers Krishna Nagar 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

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

The guideline value plays a crucial role 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 sold, the higher of the guideline value or the sale price is taken into account for calculating the applicable duties and 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 7th Street?

The current guideline value of Krishna Nagar 7th 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 for Krishna Nagar 7th Street was Rs 4,000 per sq.ft in 2012 and increased to Rs 4,400 per sq.ft in 2024, reflecting a change of +10%.

Are there any years with no recorded guideline value for this street?

Yes, the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for Krishna Nagar 7th Street.

What is the registration office for Krishna Nagar 7th Street?

The registration office for Krishna Nagar 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Krishna Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would amount to Rs 3,08,000.