Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar in Puthagaram village, under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Krishna Nagar has changed

Over the years, the guideline value for Krishna Nagar has seen several revisions. The 2012 revision recorded a value of Rs 1,300 per sq.ft, which then decreased to Rs 871 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2023, and then further increased to Rs 1,400 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. Krishna Nagar's 2024 guideline value is below this median.

• Lakshmanan Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar anex: Rs 2,200 per sq.ft (2024)
• Magathma ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar Annex II: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total cost Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office covering Krishna Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puthagaram. It is used to determine the stamp duty and registration fees payable when buying or selling property. The guideline value ensures that the property is assessed at a standard rate, which helps in maintaining transparency in real estate transactions.

When a property is registered, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This practice helps the government collect revenue and ensures that property transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification for Krishna Nagar?

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

Which office handles registrations for Krishna Nagar?

The Ambattur Sub Registrar Office handles registrations for Krishna Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is the stamp duty calculated for properties in Krishna Nagar?

Stamp duty for properties in Krishna Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,400 per sq.ft would incur a stamp duty of Rs 98,000.