Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Nandambakkam village, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 50 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 900 per sq.ft. However, it dropped to Rs 603 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 900 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 990 per sq.ft.

Between these revisions, there were notable percentage changes. From 2007 to 2012, there was an increase of 1700%. The value then decreased by 33% from 2012 to 2017. Following this, there was a 49% increase from 2017 to 2023. The current value reflects a 10% increase from the previous year.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Krishna Nagar's guideline value of Rs 990 per sq.ft is above this median.

• Kodambakkam High Road: Rs 1,210 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• LakshmiNagar: Rs 880 per sq.ft (2024)
• Lakshmi Nagar Entn: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Mahalakshmi Nagar Extn I and II: Rs 990 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 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 Nandambakkam

The guideline value is a crucial factor when registering property transactions in Nandambakkam. It determines the amount of stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, it is essential to consider the guideline value as it reflects the official valuation set by the government. This ensures that the transaction is compliant with legal requirements and helps in the accurate calculation of fees.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 1880% over the years.

What is the registration office for Krishna Nagar?

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

How is stamp duty calculated for properties in Krishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 69,300.

What are the guideline values for other streets in Nandambakkam?

Other streets in Nandambakkam have varying guideline values, with rates ranging from Rs 440 to Rs 2,300 per sq.ft. Krishna Nagar's value of Rs 990 per sq.ft is above the median of Rs 880 per sq.ft.