Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar, located in Rajakilpakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Krishna Nagar has changed

The guideline value of Krishna Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Subsequently, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,400 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value across these streets is Rs 2,150 per sq.ft, making Krishna Nagar's current value of Rs 2,400 per sq.ft above the median.

• Krishna Avenue Main Road: Rs 1,900 per sq.ft (2024)
• Krishna Avenue 2nd Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue 1st Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue: Rs 1,900 per sq.ft (2024)
• Koushik Avenue Ext III: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext II: Rs 2,150 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost to Rs 2,16,000. Duty is charged on the higher of the guideline value and 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 covering 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 Rajakilpakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Krishna Nagar?

Krishna Nagar falls under the Residential Special Type - II land classification.

What are the other streets in Rajakilpakkam?

Other streets in Rajakilpakkam include Krishna Avenue Main Road, Krishna Avenue 2nd Street, Krishna Avenue 1st Street, Krishna Avenue, Koushik Avenue Ext III, and Koushik Avenue Ext II, with respective guideline values for 2024.

Where is the Selaiyur Sub Registrar Office located?

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