Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Krishna Nagar has changed

Over the years, the guideline value of Krishna Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value dropped to Rs 804 per sq.ft in the 2017 revision, before returning to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The substantial increase from 2007 to 2012 was 300%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median of Rs 1,200 per sq.ft. Krishna Nagar's current guideline value aligns perfectly with this median.

• Karthik Nagar Extn-VI: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-V: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-IV: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-III: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-II: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-I: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. 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 that covers Krishna Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a buyer or seller approaches the registration office, the guideline value is utilized to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 300 per sq.ft in 2007, reaching Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and returning to Rs 1,200 per sq.ft in both 2023 and 2024.

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

Other streets in Madambakkam that share the same guideline value of Rs 1,200 per sq.ft include Karthik Nagar Extn-I, Karthik Nagar Extn-II, Karthik Nagar Extn-III, Karthik Nagar Extn-IV, Karthik Nagar Extn-V, and Karthik Nagar Extn-VI.

What is the stamp duty rate in Krishna Nagar?

The stamp duty rate in Krishna Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Krishna Nagar located?

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