Guideline Value for Krishna Nagar Extn

Krishna Nagar Extn guideline value

The current guideline value of Krishna Nagar Extn is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, falling under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Krishna Nagar Extn has changed

Over the years, the guideline value of Krishna Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Krishna Nagar Extn for 2024.

• Krishna Nagar Extn, 2nd Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This value serves as a reference point for both buyers and sellers during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values 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 Extn?

The current guideline value of Krishna Nagar Extn is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with significant increases from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Krishna Nagar Extn?

Krishna Nagar Extn is classified as Residential Class II Type - II.

What are the stamp duty rates for property in Krishna Nagar Extn?

The stamp duty rate for property transactions in Krishna Nagar Extn is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Velacheri Sub Registrar Office?

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