Guideline Value for Krishna Nagar Annex II

Krishna Nagar Annex II guideline value

The current guideline value of Krishna Nagar Annex II is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village and falls under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar Annex II has changed

Over the years, the guideline value for Krishna Nagar Annex II has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, the value decreased to Rs 402 per sq.ft in 2017. The 2023 revision brought it up to Rs 600 per sq.ft, and the latest revision in 2024 raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which aligns with the guideline value of Krishna Nagar Annex II.

• Krishna Nagar Annexe - III: Rs 660 per sq.ft (2024)
• Krishna Nagar-II: Rs 660 per sq.ft (2024)
• Kavery Nagar: Rs 440 per sq.ft (2024)
• Kattabomman Street: Rs 660 per sq.ft (2024)
• Karpagam Nagar Annex: Rs 880 per sq.ft (2024)
• Karpagam Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Annex II

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Nagar Annex II?

The Sub Registrar Office that covers Krishna Nagar Annex II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Grandlyon. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When finalizing a sale, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Krishna Nagar Annex II?

The current guideline value of Krishna Nagar Annex II is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting a total increase of 120% over this period.

What is the land classification for Krishna Nagar Annex II?

Krishna Nagar Annex II is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Krishna Nagar Annex II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.