Guideline Value for Krishnaveni Nagar Extension

Krishnaveni Nagar Extension guideline value

The current guideline value of Krishnaveni Nagar Extension is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Krishnaveni Nagar Extension has changed

Over the years, the guideline value for Krishnaveni Nagar Extension has seen several revisions. The 2007 revision set the value at Rs 925 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 192%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, a 49% increase, and further increased to the current value of Rs 2,970 per sq.ft in 2024, which is a 10% rise.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 221%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value for Krishnaveni Nagar Extension.

• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• K.R.B.Avenue: Rs 2,530 per sq.ft (2024)
• Kumudham Nagar Annexe: Rs 3,520 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Lalitha Avenue: Rs 2,970 per sq.ft (2024)
• Lalithambal Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaveni Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty, charged at 7%, would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration fee would be Rs 2,67,300. 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 Krishnaveni Nagar Extension?

The Sub Registrar Office covering Krishnaveni Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Mogalivakkam. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers, as it directly affects the costs associated with property transactions. It is advisable to check the latest guideline values to ensure accurate calculations during the registration process.

Frequently asked questions

What is the current guideline value of Krishnaveni Nagar Extension?

The current guideline value of Krishnaveni Nagar Extension is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 925 per sq.ft to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 221%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 29,70,000. The stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles property registrations in Krishnaveni Nagar Extension?

The Kunrathur Sub Registrar Office handles property registrations for Krishnaveni Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price. It is essential for buyers and sellers to be aware of the guideline values to ensure accurate transaction costs.