Guideline Value for Krishna Nagar Harijan Colony

Krishna Nagar Harijan Colony guideline value

The current guideline value of Krishna Nagar Harijan Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Krishna Nagar Harijan Colony has changed

The guideline value for Krishna Nagar Harijan Colony has undergone several revisions over the years. The earliest recorded value is from 2003 at Rs 218 per sq.ft. In 2007, it increased significantly to Rs 600 per sq.ft, marking a rise of 175%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 317%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, which was a decline of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 2,750 per sq.ft, a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1161%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Krishna Nagar Harijan Colony is below this median.

• Krishnapuram: Rs 2,750 per sq.ft (2024)
• Krishnaswamy Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Harijan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar Harijan Colony?

The Sub Registrar Office that covers Krishna Nagar Harijan Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Krishna Nagar Harijan Colony?

The current guideline value of Krishna Nagar Harijan Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 218 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1161% over the years.

What is the land classification of Krishna Nagar Harijan Colony?

Krishna Nagar Harijan Colony is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Krishna Nagar Harijan Colony?

The stamp duty is charged at 7% and the registration fee at 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Where is the Sub Registrar Office for Krishna Nagar Harijan Colony located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.