Guideline Value for Krishna Nagar Extension

Krishna Nagar Extension guideline value

The current guideline value of Krishna Nagar Extension is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Krishna Nagar Extension has changed

Since the 2002 revision, the guideline value for Krishna Nagar Extension has seen several changes. The 2002 revision recorded a value of Rs 449 per sq.ft, which then changed to Rs 52 per sq.ft in 2003. Following that, the value increased significantly to Rs 200 per sq.ft in 2007, and then to Rs 700 per sq.ft in 2012. However, there was a decrease to Rs 469 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,102 per sq.ft.

Between these revisions, the most notable changes include a substantial increase of 250% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. There was a remarkable increase of 113% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 145%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, which is also the current guideline value for Krishna Nagar Extension. Below are other streets in Puzhal with their respective guideline values:

• KO.C.Mani Street: Rs 1,102 per sq.ft (2024)
• Kumari Nagar: Rs 1,102 per sq.ft (2024)
• K.V.K. Swamy Street: Rs 1,102 per sq.ft (2024)
• Lakeside 4: Rs 3,000 per sq.ft (2024)
• Lakshmiamman Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Lakshmi Amman Koil 2nd Lane: Rs 1,650 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 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040. Together, the total cost for stamp duty and registration fee would be Rs 99,180. 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?

The Krishna Nagar Extension falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented legally and correctly.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers should be aware of the guideline value to ensure they are prepared for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar Extension?

The current guideline value of Krishna Nagar Extension is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 449 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, which is also the current value for Krishna Nagar Extension.

What are the stamp duty and registration fees for property in Krishna Nagar Extension?

For a property valued at Rs 11,02,000, the stamp duty would be Rs 77,140, and the registration fee would be Rs 22,040, totaling Rs 99,180.

Where is the Sub Registrar Office for Krishna Nagar Extension located?

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