Guideline Value for Krishna Nagar 8 th St

Krishna Nagar 8 th St guideline value

The current guideline value of Krishna Nagar 8 th St is Rs 4,400 per sq.ft, effective from 1 July 2024. 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 8 th St has changed

The guideline value for Krishna Nagar 8 th St has seen several revisions over the years. The earliest available revision is from 2012, where the value was Rs 4,000 per sq.ft. In 2017, the value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. However, by 2023, it had increased to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Krishna Nagar 8 th St's 2024 figure above that median.

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

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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 8 th St?

The Sub Registrar Office covering Krishna Nagar 8 th St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Understanding the guideline value ensures that all parties are informed about the financial obligations associated with property registration.

Frequently asked questions

What is the current guideline value of Krishna Nagar 8 th St?

The current guideline value of Krishna Nagar 8 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 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Krishna Nagar 8 th St?

The land classification for Krishna Nagar 8 th St is Residential Special Type - II.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Krishna Nagar 8 th St is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Krishna Nagar 8 th St located?

The Sub Registrar Office for Krishna Nagar 8 th St is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.