Guideline Value for Krishna Nagar Part II

Krishna Nagar Part II guideline value

The current guideline value of Krishna Nagar Part II is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Krishna Nagar Part II has changed

The guideline value for Krishna Nagar Part II has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 raised the guideline value to Rs 1,650 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Krishna Nagar Part II.

• Krishna Nagar Part I: Rs 1,650 per sq.ft (2024)
• Krishna Nagar I, II and III: Rs 1,320 per sq.ft (2024)
• Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Kuberar Avenue: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 1,650 per sq.ft (2024)
• Kishanlal Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar Part II

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 fees 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.

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

Which Sub Registrar Office covers Krishna Nagar Part II?

The Sub Registrar Office that covers Krishna Nagar Part II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Krishna Nagar Part II?

The current guideline value of Krishna Nagar Part II 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 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which office handles property registrations in Krishna Nagar Part II?

The Padappai Sub Registrar Office handles property registrations for Krishna Nagar Part II. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What other streets have guideline values in Varadarajapuram?

Other streets in Varadarajapuram include Krishna Nagar Part I at Rs 1,650 per sq.ft, Krishna Nagar I, II and III at Rs 1,320 per sq.ft, and Kuberar Avenue at Rs 1,980 per sq.ft, among others.