Guideline Value for Krishna Nagar Main Road

Krishna Nagar Main Road guideline value

The current guideline value of Krishna Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

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. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure was revised in 2017 to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 1,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making the current value of Krishna Nagar Main Road above this median.

• Krishna Nagar 7th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 6th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar Main Road?

The Sub Registrar Office that covers Krishna Nagar Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the 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 Kaspapuram

The guideline value plays a crucial role in property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to comply with legal requirements.

During the registration process, the guideline value is referred to for calculating the applicable fees. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Kaspapuram with the same guideline value?

Other streets in Kaspapuram that share the same guideline value of Rs 1,650 per sq.ft include Krishna Nagar 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street.

How is the stamp duty calculated for properties in this area?

The stamp duty for properties in Krishna Nagar Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

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

The Sub Registrar Office for Krishna Nagar Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.