Guideline Value for Krishnaveni Nagar

Krishnaveni Nagar guideline value

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

How the guideline value of Krishnaveni Nagar has changed

The guideline value for Krishnaveni Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, in the 2017 revision, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then rose to Rs 2,700 per sq.ft in the 2023 revision, before reaching the current figure of Rs 2,970 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 296%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft, with the median value being Rs 2,970 per sq.ft. The guideline value for Krishnaveni Nagar matches this median.

• Krishnaveni Nagar Extension: 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

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 at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees together to Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnaveni Nagar?

The Sub Registrar Office that covers Krishnaveni Nagar 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 is a critical factor in the registration process of property transactions in Mogalivakkam. It serves as a benchmark for determining the appropriate stamp duty and registration fees that must be paid during the sale or purchase of a property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the Registration Department. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Krishnaveni Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 296% across the revisions.

What are the registration fees for properties in Krishnaveni Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Krishnaveni Nagar?

The Sub Registrar Office for Krishnaveni Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Krishnaveni Nagar?

Krishnaveni Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.