Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Panapakkam village under the Padappai SRO, is Rs 550 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 undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure then decreased to Rs 335 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 500 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 550 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there were notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft, with a median value of Rs 770 per sq.ft. Krishna Nagar's current guideline value is below this median.

• Lakshmi Nagar: Rs 660 per sq.ft (2024)
• Ganapthipuram: Rs 990 per sq.ft (2024)
• Ezhil Nagar: Rs 550 per sq.ft (2024)
• Oragadam Villa: Rs 770 per sq.ft (2024)
• Eligancia: Rs 770 per sq.ft (2024)
• Pallavan Nagar: Rs 770 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total cost for these fees is Rs 49,500. 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 further assistance.

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 information.

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

The guideline value is a critical factor in property transactions within Panapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for both buyers and sellers, as it provides a standardized measure for property transactions.

When registering a property, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Krishna Nagar?

Krishna Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Krishna Nagar?

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

How is the stamp duty calculated in Krishna Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 49,500 for stamp duty and registration fees combined.