Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, Varadarajapuram village, under the Padappai SRO is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

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 value was Rs 230 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in 2017. Following this, the value rose to Rs 1,200 per sq.ft in 2023, and is now set at Rs 1,320 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in the guideline value is an increase of 474%. Notably, the increase from 2023 to 2024 is 10%, while the jump from 2017 to 2023 was 49%. The value saw a significant rise of 422% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Krishna Nagar's 2024 guideline value is below this median.

• Krishna Nagar I, II and III: Rs 1,320 per sq.ft (2024)
• Krishna Nagar Part I: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Part II: Rs 1,650 per sq.ft (2024)
• Kuberar Avenue: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 1,650 per sq.ft (2024)
• Kishanlal Avenue: Rs 3,300 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 more details.

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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements. This value helps in establishing a fair transaction during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 230 per sq.ft in 2007, increasing to Rs 1,200 in 2012, dropping to Rs 804 in 2017, then rising to Rs 1,200 in 2023, and finally reaching Rs 1,320 in 2024.

What is the land classification for Krishna Nagar?

Krishna Nagar is classified under Residential Class I Type - I land classification.

Where can I find the Padappai Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 total fees would be Rs 1,18,800.