Guideline Value for Krishnapriya Nagar

Krishnapriya Nagar guideline value

The current guideline value of Krishnapriya Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This locality is situated in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Krishnapriya Nagar has changed

Over the years, the guideline value of Krishnapriya Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 670 per sq.ft, only to rise again to Rs 1,000 per sq.ft in 2023, and finally reaching Rs 1,110 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From the 2017 revision to 2023, there was an increase of 49%. The 2024 revision shows an 11% increase from the previous year. Notably, from 2007 to 2012, there was a significant increase of 233%, but this was followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 270%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, and Krishnapriya Nagar's 2024 figure is above this median.

• Kudumi Street: Rs 1,110 per sq.ft (2024)
• Kottanakara Street: Rs 1,110 per sq.ft (2024)
• Kushee Nagar: Rs 1,480 per sq.ft (2024)
• Kutcheri Street: Rs 1,100 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnapriya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, while the registration fee at 2% would be Rs 22,200, bringing the total cost for these fees to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnapriya Nagar?

The Sub Registrar Office that covers Krishnapriya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. This ensures that the fees are calculated fairly based on the established value of the property.

When a property is sold, the guideline value helps in assessing the legal and financial obligations of both parties involved. It serves as a benchmark for the value of the property, ensuring that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Krishnapriya Nagar?

The current guideline value of Krishnapriya Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, reflecting an overall increase of 270% over the years.

What is the median guideline value in Mathuranthagam?

The median guideline value in Mathuranthagam is Rs 1,100 per sq.ft, with Krishnapriya Nagar's value being above this median.

What are the stamp duty and registration fees for a property in Krishnapriya Nagar?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which office handles property registrations for Krishnapriya Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Krishnapriya Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.