Guideline Value for Krishna Swamy Nagar

Krishna Swamy Nagar guideline value

The current guideline value of Krishna Swamy Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Krishna Swamy Nagar has changed

The guideline value of Krishna Swamy Nagar has seen significant changes over the years. In 2002, the value was Rs 176 per sq.ft, which increased to Rs 191 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,000 per sq.ft in 2007, marking an increase of 424%. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, an increase of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, a notable increase of 64% from the 2017 figure.

It is important to note that there is no figure available for the year 2023 for Krishna Swamy Nagar in the register. Overall, from 2002 to 2024, the guideline value has increased by 1,775%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Krishna Swamy Nagar.

• K.S. Nagar: Rs 2,700 per sq.ft (2024)
• Krishnan Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Krishna Swamy Nagar?

The Krishna Swamy Nagar area is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which is essential for budgeting the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Krishna Swamy Nagar?

The current guideline value of Krishna Swamy 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 significantly, increasing from Rs 176 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1,775%.

What are the stamp duty and registration fees for property in Krishna Swamy Nagar?

For a 1,000 sq.ft plot valued at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Krishna Swamy Nagar?

The Sembiam Sub Registrar Office handles property registrations for Krishna Swamy Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.