Guideline Value

Corporate

Guideline Value for Krishnaraj Nagar Extn 3rd Street

₹4400/sq.ft.

The guideline value for Krishnaraj Nagar Extn 3rd 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 Extn 3rd Street

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Krishnaraj Nagar Extn 3rd Street guideline value

The current guideline value of Krishnaraj Nagar Extn 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the jurisdiction of the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Krishnaraj Nagar Extn 3rd Street has changed

The guideline value for Krishnaraj Nagar Extn 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, when the guideline value was Rs 1,500 per sq.ft. This figure increased to Rs 2,680 per sq.ft in 2017, marking a significant rise of 79%. The next revision in 2023 saw the value increase to Rs 4,000 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from 2023. There are no figures for this street in the revisions for the years 2002, 2003, and 2012.

Overall, from 2007 to 2024, the guideline value has increased by 193%. This substantial rise reflects the changing landscape of 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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Krishnaraj Nagar Extn 3rd Street.

Stamp duty and registration fee for property in Krishnaraj Nagar Extn 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 3,96,000. 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 Krishnaraj Nagar Extn 3rd Street?

The Sub Registrar Office that covers Krishnaraj Nagar Extn 3rd 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 further inquiries.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Velachery, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions. The guideline value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnaraj Nagar Extn 3rd Street?

The current guideline value of Krishnaraj Nagar Extn 3rd 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 193% over this period.

What is the land classification of Krishnaraj Nagar Extn 3rd Street?

Krishnaraj Nagar Extn 3rd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.