Guideline Value for Krishna Nagar Manickam Street

Krishna Nagar Manickam Street guideline value

The current guideline value of Krishna Nagar Manickam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Krishna Nagar Manickam Street has changed

The guideline value for Krishna Nagar Manickam Street has undergone several revisions over the years. The 2007 revision set the value at Rs 840 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 257%, but then it decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and from 2023 to 2024, it increased by 10%. Overall, the guideline value has seen a substantial increase of 293% from 2007 to 2024.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, making the guideline value of Krishna Nagar Manickam Street above the median.

• Krishna Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Manickam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Krishna Nagar Manickam Street?

The Krishna Nagar Manickam Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar Manickam Street?

The current guideline value of Krishna Nagar Manickam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 840 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. The most notable increase was from Rs 2,010 in 2017 to Rs 3,000 in 2023.

What is the land classification for Krishna Nagar Manickam Street?

The land classification for Krishna Nagar Manickam Street is Commercial Class I Type - II, indicating its commercial usage potential.

Where is the Pallavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.