Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is 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. Starting from Rs 237 per sq.ft in 2002, it increased to Rs 500 per sq.ft in 2003, marking a significant rise of 111%. The value further rose to Rs 750 per sq.ft in 2007, which was a 50% increase. In 2012, the value was Rs 3,200 per sq.ft, reflecting a substantial increase of 327% from the previous revision. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, and finally reached Rs 3,520 per sq.ft in the 2024 revision, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1385%. There are no figures available for the revisions in years other than those specified.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Krishna Nagar's current guideline value below this median.

• Krishna Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Krishna puram: Rs 3,520 per sq.ft (2024)
• Krishna Street: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost for these fees Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 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 Porur

The guideline value is a critical factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction is documented accurately. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 237 per sq.ft to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1385%.

What is the land classification for Krishna Nagar?

The land classification for Krishna Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Krishna Nagar?

The Kunrathur Sub Registrar Office handles registrations for Krishna Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.