Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Kunrathour-B village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has undergone several revisions over the years. The most recent revision in 2024 set the rate at Rs 1,430 per sq.ft, which is an increase from Rs 1,300 per sq.ft in 2023, marking a 10% rise. Looking further back, the 2017 revision recorded a guideline value of Rs 871 per sq.ft, indicating a significant increase of 49% to reach the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Krishna Nagar's 2024 figure below that median.

• Kotharai Nagar: Rs 1,430 per sq.ft (2024)
• Kollai Street: Rs 1,430 per sq.ft (2024)
• Kudumi Street: Rs 1,430 per sq.ft (2024)
• Kumaran Avenue: Rs 1,920 per sq.ft (2024)
• Kumaran Nagar: Rs 1,430 per sq.ft (2024)
• Kumudam Enclave: Rs 4,620 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total cost for these fees Rs 1,28,700. 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.

Which Sub Registrar Office covers Krishna Nagar?

The Krishna Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor in the registration process for property transactions in Kunrathour-B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation set by the government.

When buying or selling property, the guideline value helps determine the official value of the property for legal and financial purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased significantly. It rose from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024.

What is the land classification of Krishna Nagar?

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

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs for these fees would amount to Rs 1,28,700.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Krishna Nagar.