Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value for Krishna Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this street is 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. In 2007, the value was set at Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, the guideline value increased by 233%. However, it then decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, followed by a 7% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Krishna Nagar's current value below this median.

• Kirubha Nagar: Rs 850 per sq.ft (2024)
• Kathavarayan Nagar: Rs 950 per sq.ft (2024)
• Karunanidhi Main Road: Rs 1,600 per sq.ft (2024)
• Lakshmi Nagar: Rs 4,800 per sq.ft (2024)
• Lakshmi Nagar 1 St Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar 2nd Street: Rs 1,300 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market rates.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. This ensures that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Krishna Nagar?

Krishna Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated in Krishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.