Guideline Value for Krishna Nagar Extension

Krishna Nagar Extension guideline value

The current guideline value of Krishna Nagar Extension, located in Karanaipuducheri village, is Rs 700 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Residential Class I Type - I land classification. The property is registered with the Gooduvancheri Sub Registrar Office (SRO).

How the guideline value of Krishna Nagar Extension has changed

Over the years, the guideline value of Krishna Nagar Extension has seen several revisions. The most recent revision in 2024 maintains the value at Rs 700 per sq.ft, the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 700 per sq.ft, indicating a decrease of 33% when compared to the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 700 per sq.ft.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO with a guideline value for 2024 ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, positioning Krishna Nagar Extension's value below this median.

• Krishna Nagar: Rs 1,200 per sq.ft (2024)
• K.P.N Platinum City: Rs 1,200 per sq.ft (2024)
• Kpn Nagar: Rs 1,100 per sq.ft (2024)
• Kpn Grand: Rs 1,500 per sq.ft (2024)
• Kpn Avenue: Rs 1,100 per sq.ft (2024)
• K.K.R Nagar Phase - II: Rs 1,100 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty, charged at 7%, would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Therefore, the total cost for stamp duty and registration would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar Extension?

The Krishna Nagar Extension is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall transaction costs. Buyers should ensure that the sale price is not significantly lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Krishna Nagar Extension?

The current guideline value of Krishna Nagar Extension is Rs 700 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a significant increase from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What are the other streets in Karanaipuducheri?

Other streets in Karanaipuducheri include Krishna Nagar, K.P.N Platinum City, Kpn Nagar, Kpn Grand, Kpn Avenue, and K.K.R Nagar Phase - II, with values ranging from Rs 1,100 to Rs 1,500 per sq.ft in 2024.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Krishna Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.