Guideline Value for Krishna Nagar 9th Street

Krishna Nagar 9th Street guideline value

The current guideline value of Krishna Nagar 9th 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 9th Street has changed

In the 2012 revision, the guideline value for Krishna Nagar 9th Street was Rs 4,000 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 4,400 per sq.ft, marking a 10% rise from the previous year. The register has no figure for this street in the revisions of 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2024 figure is significant as it aligns with the median guideline value for streets in Velachery.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Krishna Nagar 9th Street.

• Krishna Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 9th 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, making the total charges Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar 9th Street?

The Sub Registrar Office that covers Krishna Nagar 9th 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 plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property.

When a property is registered, the higher value between the guideline value and the sale price is considered 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 9th Street?

The current guideline value of Krishna Nagar 9th 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 has remained at Rs 4,000 per sq.ft from 2012 to 2023, before increasing to Rs 4,400 per sq.ft in 2024. Overall, there has been a 10% increase from the 2012 revision to the 2024 revision.

What is the land classification for Krishna Nagar 9th Street?

Krishna Nagar 9th Street is classified as Residential Class II Type - II under the Velacheri SRO.

Where can I find the Sub Registrar Office for Krishna Nagar 9th Street?

The Sub Registrar Office for Krishna Nagar 9th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Krishna Nagar 9th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot at the current guideline value, the total charges would be Rs 3,96,000.