Guideline Value for Krishna Nagar Extn-III

Krishna Nagar Extn-III guideline value

The current guideline value for Krishna Nagar Extn-III is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Korukanthangal village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Krishna Nagar Extn-III has changed

The guideline value for Krishna Nagar Extn-III has undergone several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions show that the value remained at Rs 500 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

Between the revisions, the most notable change occurred from 2012 to 2017, where the value decreased by 33%. Following this, there was a significant increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Korukanthangal

In Korukanthangal village, there are 25 streets under the Gooduvancheri SRO that carry a guideline value of Rs 500 per sq.ft in 2024, with the median also being Rs 500 per sq.ft. Krishna Nagar Extn-III's guideline value aligns with this median.

• Krishna Nagar: Rs 500 per sq.ft (2024)
• L.V.R. Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Kannadasan Nagar: Rs 500 per sq.ft (2024)
• Kalaimagal Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Extn-III

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which totals Rs 35,000, and the registration fee is charged at 2%, amounting to Rs 10,000. Therefore, the total cost for stamp duty and registration fee together is Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar Extn-III?

The Sub Registrar Office that covers Krishna Nagar Extn-III is 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korukanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Krishna Nagar Extn-III?

The current guideline value for Krishna Nagar Extn-III is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the registration office for Krishna Nagar Extn-III?

The registration office for Krishna Nagar Extn-III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for property in Krishna Nagar Extn-III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.

What is the land classification for Krishna Nagar Extn-III?

The land classification for Krishna Nagar Extn-III is Residential Special Type - I, which indicates its designated use for residential purposes.