Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 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 for Krishna Nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 218 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 175% rise. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 317% increase. However, in 2017, it decreased to Rs 1,675 per sq.ft, a decline of 33%. The 2023 revision saw the value rise to Rs 2,500 per sq.ft, followed by the current rate of Rs 2,750 per sq.ft from the 2024 revision, which is a 10% increase.

Overall, the guideline value has increased by 1161% from the 2003 revision to the current 2024 rate. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Krishna Nagar's 2024 figure is below this median.

• Krishnamachari Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar Harijan Colony: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Nagar?

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

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These costs are based on the guideline value or the actual sale price, whichever is higher, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 218 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1161% over this period.

What is the land classification of Krishna Nagar?

Krishna Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for property in Krishna Nagar?

Stamp duty for property in Krishna Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.