Guideline Value

Corporate

Guideline Value for Krishnaraj Nagar

₹4400/sq.ft.

The guideline value for Krishnaraj Nagar 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 ₹568 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹507 /sq.ft.
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]

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Krishnaraj Nagar guideline value

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

How the guideline value of Krishnaraj Nagar has changed

The guideline value for Krishnaraj Nagar has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 507 per sq.ft. This figure increased to Rs 568 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 1,500 per sq.ft in 2007, which was a 164% increase. In the 2017 revision, the value further escalated to Rs 2,680 per sq.ft, reflecting a 79% increase from the previous figure. The 2023 revision set the guideline value at Rs 4,000 per sq.ft, a 49% increase from 2017. Finally, the current value of Rs 4,400 per sq.ft as of the 2024 revision represents a 10% increase from 2023.

It is worth noting that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 768%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 current guideline value of Krishnaraj Nagar.

Stamp duty and registration fee for property in Krishnaraj Nagar

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, totaling 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 also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Krishnaraj Nagar?

The Krishnaraj Nagar area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Velachery, as it determines the minimum value at which a property can be registered. This value is set by the government and is revised periodically to reflect changes in the real estate market.

When a transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnaraj Nagar?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 507 per sq.ft to Rs 4,400 per sq.ft in 2024, representing an overall increase of 768%.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Krishnaraj Nagar?

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

What is the land classification of Krishnaraj Nagar?

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