Guideline Value for Krishna Nagar Extension

Krishna Nagar Extension guideline value

The current guideline value of Krishna Nagar Extension is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Krishna Nagar Extension has changed

The guideline value for Krishna Nagar Extension has seen several revisions over the years. In 2007, the guideline value was Rs 839 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking an increase of 281%. However, from 2012 to 2017, the value decreased to Rs 2,144 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,200 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%.

Guideline values in Madanandapuram

Madanandapuram village has a total of 94 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,530 to Rs 5,830 per sq.ft. The guideline value for Krishna Nagar Extension is equal to the median of Rs 3,520 per sq.ft. Below are the guideline values for other streets in Madanandapuram:

• Krishna Nagar: Rs 3,520 per sq.ft (2024)
• Kumari Nagar: Rs 3,520 per sq.ft (2024)
• Kunrathur Main Road: Rs 5,830 per sq.ft (2024)
• Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• Lakshmi Garden: Rs 3,520 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration fee would be Rs 3,16,800. 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 details.

Which Sub Registrar Office covers Krishna Nagar Extension?

The Krishna Nagar Extension falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Krishna Nagar Extension?

The current guideline value of Krishna Nagar Extension is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 839 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 320% over the years.

What are the stamp duty rates for property in Krishna Nagar Extension?

The stamp duty rate for property in Krishna Nagar Extension is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What other streets have the same guideline value as Krishna Nagar Extension?

Other streets in Madanandapuram with the same guideline value of Rs 3,520 per sq.ft include Kumari Nagar, Lakshmi Avenue, Lakshmi Garden, and Lakshmi Nagar.