Guideline Value for Krishna Nagar 7th Street

Krishna Nagar 7th Street guideline value

The current guideline value of Krishna Nagar 7th 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 7th Street has changed

The guideline value for Krishna Nagar 7th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,005 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Krishna Nagar 7th Street's 2024 figure above this median.

• Krishna Nagar 6th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Main Road: 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)

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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar 7th Street?

The Sub Registrar Office that covers Krishna Nagar 7th 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 serves as a benchmark for property transactions in Kaspapuram. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions and ensures compliance with local regulations during the registration process.

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 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 a notable decrease to Rs 1,005 per sq.ft in 2017 before increasing again in subsequent years.

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

The land classification for Krishna Nagar 7th Street is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot has total fees amounting to Rs 1,48,500.

Where can I find the Sub Registrar Office for Krishna Nagar 7th Street?

The Tambaram Joint 1 Sub Registrar Office covers Krishna Nagar 7th Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.