Guideline Value for Krishna Nagar Part I

Krishna Nagar Part I guideline value

The current guideline value of Krishna Nagar Part I, located in Navaloor village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Krishna Nagar Part I has changed

The guideline value of Krishna Nagar Part I has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,000 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the 2024 guideline value of Krishna Nagar Part I.

• Kavin Town Ship: Rs 560 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 440 per sq.ft (2024)
• Kanchivakkam to Vellarithangal Road: Rs 440 per sq.ft (2024)
• Kanchivakkam to Serappananchery Road: Rs 440 per sq.ft (2024)
• Green Grove Co-Operative Jeyam Nagar: Rs 770 per sq.ft (2024)
• Ezhil Nagar: Rs 550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. 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 Part I?

The Sub Registrar Office that covers Krishna Nagar Part I 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Navaloor. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, protecting both the buyer and seller. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Krishna Nagar Part I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft in 2024.

What is the land classification for Krishna Nagar Part I?

The land classification for Krishna Nagar Part I is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in Krishna Nagar Part I?

For a property valued at Rs 5,50,000, the stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500.

Which office handles property registrations in Krishna Nagar Part I?

The Padappai Sub Registrar Office handles property registrations in Krishna Nagar Part I, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.