Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special 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 2007, the value was set at Rs 230 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 500 per sq.ft, showing no change between these two years.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Krishna Nagar aligns with this median.

• Krishna Nagar Extn-III: Rs 500 per sq.ft (2024)
• L.V.R. Nagar: Rs 500 per sq.ft (2024)
• Kannadasan Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Kalaimagal Avenue: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korukanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher value between the guideline value and the sale price. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 230 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017. It has remained at Rs 500 per sq.ft in both 2023 and 2024.

What are the other streets in Korukanthangal with the same guideline value?

Other streets in Korukanthangal that have a guideline value of Rs 500 per sq.ft include Krishna Nagar Extn-III, L.V.R. Nagar, Kannadasan Nagar, Mahalakshmi Avenue, Mahalakshmi Nagar, and Kalaimagal Avenue.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Krishna Nagar located?

The Gooduvancheri Sub Registrar Office, covering Krishna Nagar, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.