Guideline Value

Corporate

Guideline Value for Krishna Nagar 8th Street

₹4400/sq.ft.

The guideline value for Krishna Nagar 8th Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Krishna Nagar 8th Street

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Krishna Nagar 8th Street guideline value

The current guideline value of Krishna Nagar 8th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Krishna Nagar 8th Street has changed

In the 2012 revision, the guideline value for Krishna Nagar 8th Street was Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 4,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 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 equal to the 2024 figure for Krishna Nagar 8th Street.

Stamp duty and registration fee for property in Krishna Nagar 8th Street

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 amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be 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 details.

Which Sub Registrar Office covers Krishna Nagar 8th Street?

The Sub Registrar Office that covers Krishna Nagar 8th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the regulations during the registration process.

When a property is sold, the guideline value influences the calculation of stamp duty and registration fees. These fees are based on either the guideline value or the actual sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Krishna Nagar 8th 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 8th Street was Rs 4,000 per sq.ft in 2012 and 2023, and it increased to Rs 4,400 per sq.ft in 2024. There were no figures recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification of Krishna Nagar 8th Street?

Krishna Nagar 8th Street is classified as Residential Class II Type - II under the Velacheri SRO.

What are the stamp duty and registration fees for properties in Krishna Nagar 8th Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Velacheri Sub Registrar Office, which covers Krishna Nagar 8th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.