Guideline Value for Krishna Nagar

Krishna Nagar guideline value

The current guideline value of Krishna Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Sumanthiram Pedu village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishna Nagar has changed

The guideline value for Krishna Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 35 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. This figure remained unchanged until the 2017 revision, where it rose to Rs 201 per sq.ft, marking a 49% increase. The value again remained steady until the 2023 revision, which kept it at Rs 300 per sq.ft, and this value is set to continue into the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 757%.

Guideline values in Sumanthiram Pedu

In Sumanthiram Pedu, there are eight streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Krishna Nagar's 2024 figure above that median.

• Kamachiamman Nagar: Rs 400 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Polatchiyamman Koil Street: Rs 200 per sq.ft (2024)
• Vinayagar Koil 1st Street: Rs 200 per sq.ft (2024)
• Vinayagar Koil 2nd Street: Rs 200 per sq.ft (2024)
• Mgr Street: Rs 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers Krishna Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sumanthiram Pedu. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at an appropriate value, which helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Krishna Nagar?

The current guideline value of Krishna Nagar is Rs 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 35 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, remained the same until 2017, where it was Rs 201 per sq.ft, and then returned to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Krishna Nagar?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 300 per sq.ft, the total fees would be Rs 27,000.

Where is the Sub Registrar Office located for Krishna Nagar?

The Sub Registrar Office for Krishna Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.