Guideline Value

Corporate

Guideline Value for Krishnaraj Nagar 1st street

₹4400/sq.ft.

The guideline value for Krishnaraj Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Krishnaraj Nagar 1st Street

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Krishnaraj Nagar 1st street guideline value

The current guideline value of Krishnaraj Nagar 1st street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Krishnaraj Nagar 1st street has changed

The guideline value of Krishnaraj Nagar 1st street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 79% rise. The value further increased to Rs 4,000 per sq.ft in the 2023 revision, reflecting a 49% increase from the previous figure. The current 2024 revision shows an increase to Rs 4,400 per sq.ft, which is a 10% rise from the 2023 figure. The register has no figure for this street in the years 2002, 2003, and 2012.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. This reflects the changes in property values in the area over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Krishnaraj Nagar 1st street.

Stamp duty and registration fee for property in Krishnaraj Nagar 1st street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Please 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 Krishnaraj Nagar 1st street?

The Sub Registrar Office that covers Krishnaraj Nagar 1st street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Krishnaraj Nagar 1st street?

The current guideline value of Krishnaraj Nagar 1st street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification for Krishnaraj Nagar 1st street?

Krishnaraj Nagar 1st street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Krishnaraj Nagar 1st street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,08,000.