Guideline Value for Krishna Nagar-II

Krishna Nagar-II guideline value

The current guideline value of Krishna Nagar-II is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar-II has changed

The guideline value for Krishna Nagar-II has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 50 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a 500% rise. In 2012, it rose to Rs 600 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The value then increased to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 1220%. The most notable change occurred between 2017 and 2023, where the value surged by 49% to reach Rs 600 per sq.ft.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, placing Krishna Nagar-II's 2024 figure at this median level.

• Krishna Nagar Annex II: Rs 660 per sq.ft (2024)
• Krishna Nagar Annexe - III: Rs 660 per sq.ft (2024)
• Kavery Nagar: Rs 440 per sq.ft (2024)
• Kattabomman Street: Rs 660 per sq.ft (2024)
• Karpagam Nagar Annex: Rs 880 per sq.ft (2024)
• Karpagam Nagar: Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar-II?

The Sub Registrar Office covering Krishna Nagar-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Grandlyon. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value assigned to the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and helps prevent undervaluation during transactions, which can affect government revenue.

Frequently asked questions

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

The current guideline value of Krishna Nagar-II is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 1220% over this period.

What are the stamp duty and registration fees for properties in Krishna Nagar-II?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Krishna Nagar-II?

The Redhills Sub Registrar Office covers Krishna Nagar-II, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Krishna Nagar-II?

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