Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has seen significant changes over the years. In 2003, the value was Rs 66 per sq.ft, which rose dramatically to Rs 1,273 per sq.ft in 2017, marking an increase of 1829%. The 2023 revision set the value at Rs 1,900 per sq.ft, and the latest revision in 2024 saw another increase to Rs 2,090 per sq.ft, reflecting a 10% rise from the previous year.

From 2017 to 2023, the increase was 49%. Overall, from 2003 to 2024, the guideline value has increased by 3067%. It is important to note that the register has no figures for the years 2002, 2007, and 2012 for this street.

Guideline values in Noombal

In Noombal, there are a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value across these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value of Krishna Nagar.

• Kulakarai 1st Street: Rs 2,090 per sq.ft (2024)
• Kulakarai 2nd Street: Rs 2,090 per sq.ft (2024)
• Kulakarai 3rd Street: Rs 2,090 per sq.ft (2024)
• Kendiraya Vihar: Rs 4,290 per sq.ft (2024)
• Kaveri Nagar: Rs 1,100 per sq.ft (2024)
• Kannabiran Street Cross Road: Rs 1,760 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Therefore, the total cost for stamp duty and registration would be Rs 1,88,100. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Noombal. It serves as a benchmark for calculating the stamp duty and registration fees during the transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property dealings.

When a property is registered, the guideline value is used to determine the amount of stamp duty payable. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property as recognized by the local authorities.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 66 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 3067% over the years.

What are the stamp duty rates for property in Krishna Nagar?

The stamp duty for property in Krishna Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Krishna Nagar?

Krishna Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.