Guideline Value for Krishna Nagar Main Road

Krishna Nagar Main Road guideline value

The current guideline value of Krishna Nagar Main Road is Rs 3,520 per sq.ft, effective from 1 July 2024. This road is located in Porur village and falls under the Kunrathur SRO with a land classification of Residential Special Type - II.

How the guideline value of Krishna Nagar Main Road has changed

The guideline value for Krishna Nagar Main Road has seen several revisions over the years. The 2012 revision recorded a value of Rs 3,200 per sq.ft, which then dropped to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then further rose to the current rate of Rs 3,520 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median of Rs 3,960 per sq.ft. The guideline value of Krishna Nagar Main Road is below this median.

• Krishna Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Krishna puram: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar: Rs 3,520 per sq.ft (2024)
• Krishna Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details on fees applicable to your property transactions.

Which Sub Registrar Office covers Krishna Nagar Main Road?

The Sub Registrar Office that covers Krishna Nagar Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Porur, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is important to ensure that the sale price of the property is not lower than the guideline value, as the registration office will charge fees based on the higher of the two figures. This ensures that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Krishna Nagar Main Road?

The current guideline value of Krishna Nagar Main Road is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Krishna Nagar Main Road?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,16,800.

Which office handles property registrations for Krishna Nagar Main Road?

The Kunrathur Sub Registrar Office is responsible for property registrations in Krishna Nagar Main Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties. It is critical for calculating the stamp duty and registration fees during property transactions in Porur.