Guideline Value for SHRI KRISHNA NAGAR

Shri Krishna Nagar guideline value

The current guideline value of Shri Krishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - II.

How the guideline value of Shri Krishna Nagar has changed

The guideline value for Shri Krishna Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 107 per sq.ft, which increased to Rs 126 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 400 per sq.ft in 2007, representing a 217% increase. By 2012, the guideline value rose to Rs 1,200 per sq.ft, a substantial 200% increase from the previous revision. However, in 2017, it decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a guideline value of Rs 1,320 per sq.ft, which is a 64% increase from 2017.

It is important to note that the register has no figure for Shri Krishna Nagar for the year 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,134%.

Guideline values in Pallikaranai

Pallikaranai village has 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Shri Krishna Nagar's 2024 figure below this median.

• Shri Karpaga Vinayagar Nagar: Rs 1,320 per sq.ft (2024)
• Shri Jaya Anjenayar Nagar: Rs 1,650 per sq.ft (2024)
• Shri Ganapathi Nagar: Rs 1,320 per sq.ft (2024)
• Shridharan V Nagar: Rs 2,200 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ayya Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shri Krishna Nagar?

The Sub Registrar Office that covers Shri Krishna Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pallikaranai. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to understand that these fees are based on the guideline value or the sale price, whichever is higher, thereby influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shri Krishna Nagar?

The current guideline value of Shri Krishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 107 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, which is an overall increase of 1,134%.

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

For a 1,000 sq.ft plot, the guideline value is Rs 13,20,000. The stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Shri Krishna Nagar?

The Chennai South Joint I Sub Registrar Office covers Shri Krishna Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

Where can I find more information on stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.