Guideline Value for Krishnammal Nagar

Krishnammal Nagar guideline value

The current guideline value of Krishnammal Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Eraiyur village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Krishnammal Nagar has changed

The guideline value for Krishnammal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was adjusted to Rs 134 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft, which remained constant through the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Krishnammal Nagar.

• Madha Koil Street: Rs 200 per sq.ft (2024)
• Mahakavi Subramaniya Bharthi Nagar I: Rs 200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Jeyam Nagar: Rs 200 per sq.ft (2024)
• Mettu Colony: Rs 100 per sq.ft (2024)
• Isvariyam Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnammal Nagar?

The Sub Registrar Office that covers Krishnammal 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 Eraiyur

The guideline value is a critical factor in the registration of property transactions in Eraiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the necessary fees and taxes associated with the transaction, providing a transparent framework for property dealings.

Frequently asked questions

What is the current guideline value of Krishnammal Nagar?

The current guideline value of Krishnammal Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification for Krishnammal Nagar?

Krishnammal Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where is the Sub Registrar Office for Krishnammal Nagar located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur a total of Rs 18,000 in fees.