Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Pattravakkam village under the Konnur SRO and is classified as Residential Class III Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, followed by a significant drop to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a substantial increase of 87%, bringing the value to Rs 1,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, raising the guideline value to Rs 1,100 per sq.ft.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft, with a median value of Rs 1,500 per sq.ft. Krishna Nagar's 2024 figure is below this median.

• Kullakkarai Street: Rs 1,100 per sq.ft (2024)
• Lakshmi Colony: Rs 1,100 per sq.ft (2024)
• Karukku Utkadai Paguthi & Street & Lanes: Rs 1,500 per sq.ft (2024)
• Karukku Main Road: Rs 2,200 per sq.ft (2024)
• Kanniamman Koil Street: Rs 1,100 per sq.ft (2024)
• Kannan Koil Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pattravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 267%.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Krishna Nagar?

The Konnur Sub Registrar Office handles property registrations for Krishna Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a reference point for both buyers and sellers in the registration process.