Guideline Value

Corporate

Guideline Value for Krishna Nagar Extension 1st Street

₹4400/sq.ft.

The guideline value for Krishna Nagar Extension 1st 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 ₹2680 /sq.ft.
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 Extension 1st Street

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Krishna Nagar Extension 1st Street guideline value

The current guideline value of Krishna Nagar Extension 1st 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 Extension 1st Street has changed

The guideline value for Krishna Nagar Extension 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 4,400 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Krishna Nagar Extension 1st Street.

Stamp duty and registration fee for property in Krishna Nagar Extension 1st 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, resulting in a total of Rs 3,96,000. It is important to note that the 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 Extension 1st Street?

The Sub Registrar Office that covers Krishna Nagar Extension 1st 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers need to be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Krishna Nagar Extension 1st Street?

The current guideline value for Krishna Nagar Extension 1st 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 changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

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

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.

Which Sub Registrar Office is responsible for Krishna Nagar Extension 1st Street?

The Velacheri Sub Registrar Office is responsible for Krishna Nagar Extension 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Krishna Nagar Extension 1st Street?

Krishna Nagar Extension 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential development.