Guideline Value for Krishna Nagar Main

Krishna Nagar Main guideline value

The current guideline value of Krishna Nagar Main, located in Ullagaram village under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Krishna Nagar Main has changed

The guideline value for Krishna Nagar Main has seen several revisions over the years. Starting from Rs 336 per sq.ft in 2003, it increased significantly to Rs 1,200 per sq.ft in 2007. The value then rose to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and a further rise to Rs 2,800 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 257% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 12%. Overall, from 2003 to 2024, the guideline value has increased by 733%. The register has no figure for the year 2002 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value of Krishna Nagar Main.

• Krishna Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Krishnayar Street: Rs 2,800 per sq.ft (2024)
• Kubera Munusamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Main

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar Main?

The Krishna Nagar Main area is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and legally binding.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Krishna Nagar Main?

The current guideline value of Krishna Nagar Main is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting a significant overall increase of 733% over this period.

What is the land classification for Krishna Nagar Main?

Krishna Nagar Main is classified under Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,800 per sq.ft would incur total fees of Rs 2,52,000.