Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in S. Kullathur village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Krishna Nagar has changed

Over the years, the guideline value of Krishna Nagar has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 500 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a substantial rise of 360%. However, it then decreased to Rs 1,541 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, which was a 30% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, representing a 27% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 406%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Krishna Nagar's 2024 figure below this median.

• Krishna Nagar 1st Main Road: Rs 2,530 per sq.ft (2024)
• Kulathur Main Road: Rs 4,400 per sq.ft (2024)
• Kavimani Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Kavimani Nagar: Rs 2,530 per sq.ft (2024)
• Lakshmi Narayanan Nagar: Rs 2,530 per sq.ft (2024)
• LIC Nagar: Rs 2,530 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 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost together to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Nagar?

The Krishna Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value plays a crucial role in the registration process of property transactions in S. Kullathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair and transparent price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in 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 2,530 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 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 406% over the years.

What is the registration office for Krishna Nagar?

The registration office for Krishna Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Krishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a stamp duty of Rs 1,77,100.

What are the guideline values for other streets in S. Kullathur?

Other streets in S. Kullathur have varying guideline values, with rates ranging from Rs 1,320 to Rs 4,400 per sq.ft. Krishna Nagar's value is below the median of Rs 2,750 per sq.ft.