Guideline Value for Krishna Nagar Extension

Krishna Nagar Extension guideline value

The current guideline value of Krishna Nagar Extension, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Krishna Nagar Extension has changed

The guideline value for Krishna Nagar Extension has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,200 per sq.ft, marking a change of +10% from the previous figure.

There are no registered figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only figures available for reference are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Krishna Nagar Extension's 2024 figure above this median.

• Krishna Nagar , Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Roads ( Ward No.3): Rs 2,200 per sq.ft (2024)
• Krishna Nagar 2nd st ( Ward No.23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar ( Ward No.8): Rs 2,200 per sq.ft (2024)
• Krishnappan St (Ward-02): Rs 1,300 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 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, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar Extension?

The Krishna Nagar Extension falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate 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 Extension?

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

How has the guideline value changed over the years?

Since the 2012 revision, which recorded a guideline value of Rs 2,000 per sq.ft, the value has increased to Rs 2,200 per sq.ft in 2024, marking a change of +10%.

Are there any years without a registered guideline value for Krishna Nagar Extension?

Yes, the guideline value register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for Krishna Nagar Extension.

What is the land classification for Krishna Nagar Extension?

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

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.