Guideline Value for SRI KRISHNA NAGAR PHASE II

Sri Krishna Nagar Phase II guideline value

The current guideline value of Sri Krishna Nagar Phase II is Rs 1,320 per sq.ft. This area is located in Thirumudivakkam village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Krishna Nagar Phase II has changed

The guideline value for Sri Krishna Nagar Phase II has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has raised it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current value of Sri Krishna Nagar Phase II.

• Sri Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Sri Mahalakshmi Co-operative society nagar: Rs 1,320 per sq.ft (2024)
• Sri Jayanthi Nagar: Rs 660 per sq.ft (2024)
• Sri Harish Nagar: Rs 660 per sq.ft (2024)
• Srinivasa Garden: Rs 3,210 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Krishna Nagar Phase II?

The Sri Krishna Nagar Phase II area is covered by the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the buyer and seller must refer to the guideline value to ensure that the correct fees are calculated. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar Phase II?

The current guideline value of Sri Krishna Nagar Phase II 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sri Krishna Nagar Phase II?

Sri Krishna Nagar Phase II is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for Sri Krishna Nagar Phase II?

The registration office for Sri Krishna Nagar Phase II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Sri Krishna Nagar Phase II?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the stamp duty would be Rs 92,400.