Guideline Value for Krishna Nagar Extn

Krishna Nagar Extn guideline value

The current guideline value of Krishna Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar Extn has changed

The guideline value for Krishna Nagar Extn has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, resulting in a significant increase of +49% to reach the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that the guideline value for Krishna Nagar Extn is below this median.

• Krishna Nagar Extension 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 3rd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 2nd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar / Arul Murugan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar (New Kubera Nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that 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 specific calculations.

Which Sub Registrar Office covers Krishna Nagar Extn?

The Krishna Nagar Extn area is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as determined by the Registration Department.

Frequently asked questions

What is the current guideline value of Krishna Nagar Extn?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is an overall increase of +64%. The value was Rs 2,000 per sq.ft in 2023, reflecting a +10% increase from that year.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft for the year 2024. Krishna Nagar Extn's guideline value is below this median.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Krishna Nagar Extn?

The Velacheri Sub Registrar Office covers Krishna Nagar Extn and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.