Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft, marking a decrease of 33%. The following revision in 2023 saw a significant increase to Rs 300 per sq.ft, and then in 2024, it rose again to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village comprises 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, indicating that Krishna Nagar's 2024 figure is below this median.

• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 550 per sq.ft (2024)
• Madha Nagar: Rs 440 per sq.ft (2024)
• Kannagi Street: Rs 550 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,010 per sq.ft (2024)
• Malar Nagar: Rs 2,010 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, while the registration fee at 2% would be Rs 6,600. Therefore, the total cost for stamp duty and registration fee would be Rs 29,700. 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 information.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office covering Krishna Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Naduveerapattu, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value affects the stamp duty and registration fees applicable during the sale process.

When purchasing property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process requires the payment of stamp duty based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the classification of land in Krishna Nagar?

Krishna Nagar is classified as Residential Class III Type - I.

What is the median guideline value in Naduveerapattu?

The median guideline value in Naduveerapattu is Rs 660 per sq.ft, which is higher than the current guideline value of Krishna Nagar.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.