Guideline Value for SRI KRISHNA NAGAR 1ST -5TH STREET (VIJAYAM NAGAR EXTENSION)

Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension) guideline value

The current guideline value for Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO with a land classification of Residential Special Type - II.

How the guideline value of Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension) has changed

Since the 2012 revision, the guideline value for Sri Krishna Nagar 1st -5th Street has seen several changes. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure shows a modest increase of 10% over the twelve-year period.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value for Sri Krishna Nagar 1st -5th Street is above this median.

• Sri Moogambigai Nagar: Rs 1,600 per sq.ft (2024)
• Sri Nargunam Avenue: Rs 850 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 1,200 per sq.ft (2024)
• Srinivasa Palms @ Perumbakkam: Rs 3,200 per sq.ft (2024)
• Sri Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Sri Sai Garden: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension)?

The Sub Registrar Office that covers Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension) is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Perumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Krishna Nagar 1st -5th Street?

The current guideline value for Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the median guideline value for streets in Perumbakkam?

The median guideline value for streets in Perumbakkam is Rs 2,725 per sq.ft, which is below the current value of Rs 3,300 per sq.ft for Sri Krishna Nagar 1st -5th Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total cost would be Rs 2,97,000 for both fees combined.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.