Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar in Madipakkam-1 village, under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value register for Krishna Nagar has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision with a figure is from 2024, which is Rs 2,200 per sq.ft.

As there are no changes reported between the revisions, the current guideline value remains consistent since it was last updated in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Krishna Nagar's current figure is below this median.

• Krishna Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar / Arul Murugan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension 1st Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Krishna Nagar?

The Sub Registrar Office that covers Krishna Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered the base value for calculating these fees. Buyers must ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Krishna Nagar?

The current guideline value for Krishna Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

What land classification does Krishna Nagar fall under?

Krishna Nagar is classified as Residential Class II Type - I according to the guideline value register.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 that are covered under the Velacheri SRO, each carrying a guideline value for the year 2024.

What are the stamp duty and registration fees for property in Krishna Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

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

The Sub Registrar Office for Krishna Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.