Guideline Value for Krishna Nagar Extension 2nd Street

Krishna Nagar Extension 2nd Street guideline value

The current guideline value of Krishna Nagar Extension 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar Extension 2nd Street has changed

The guideline value for Krishna Nagar Extension 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, reflecting a significant increase of +49% to 2023. The overall change from 2017 to 2024 is +64%.

There are no figures available for this street in the revisions from the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, making the guideline value for Krishna Nagar Extension 2nd Street below the median.

• Krishna Nagar Extension 3rd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar / Arul Murugan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar (New Kubera Nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Extension 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishna Nagar Extension 2nd Street?

The Krishna Nagar Extension 2nd Street falls under 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is essential for property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is crucial to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are paid during registration.

Frequently asked questions

What is the current guideline value of Krishna Nagar Extension 2nd Street?

The current guideline value of Krishna Nagar Extension 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +64% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Krishna Nagar Extension 2nd Street?

The Velacheri Sub Registrar Office handles registrations for Krishna Nagar Extension 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Krishna Nagar Extension 2nd Street?

Krishna Nagar Extension 2nd Street is classified as Residential Class II Type - I.