Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value for Krishna Nagar in Perumbakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. However, the value rose again to Rs 3,000 per sq.ft in the 2012 revision, and subsequently increased to Rs 3,000 per sq.ft in 2023, marking a 49% increase from the 2017 figure.

As of the 2024 revision, the guideline value stands at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year's figure of Rs 3,000 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Krishna Nagar's current guideline value is above this median.

• Krishna Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 4th Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 40 feet Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Kovalan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can 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 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 Perumbakkam

The guideline value is an essential factor when registering property transactions in Perumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for both parties involved in the transaction. It is crucial to consider this value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification of Krishna Nagar?

Krishna Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

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 stamp duty calculated in Krishna Nagar?

Stamp duty in Krishna Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.