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 248 per sq.ft, effective from 1 July 2024. This locality is situated in Mabuskanpettai village, under the Thiruvottiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value for Sri Krishna Nagar Phase II has seen several revisions. The 2012 revision set the value at Rs 225 per sq.ft, which then decreased to Rs 151 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 226 per sq.ft in 2023. The most recent revision in 2024 has further raised the guideline value to Rs 248 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. Specifically, there was a 50% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mabuskanpettai

Mabuskanpettai village has a range of guideline values across its streets, with figures for 2024 ranging from Rs 165 to Rs 1,000 per sq.ft. The guideline value for Sri Krishna Nagar Phase II matches the median value of Rs 248 per sq.ft in the village. Below are the guideline values for other streets in Mabuskanpettai:

• Sri Kalasathamman Nagar: Rs 248 per sq.ft (2024)
• Sri Gomathi Amman Nagar: Rs 165 per sq.ft (2024)
• Sri Sankara Balamurugan Nagar: Rs 248 per sq.ft (2024)
• Sri Sankara Vetrivel Garden: Rs 248 per sq.ft (2024)
• Vijay Nagar: Rs 165 per sq.ft (2024)
• Dr. Ambetkar Nagar: Rs 165 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 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would amount to Rs 17,360, and the registration fee at 2% would be Rs 4,960, resulting in a total of Rs 22,320. 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 precise calculations.

Which Sub Registrar Office covers Sri Krishna Nagar Phase II?

The Sub Registrar Office that covers Sri Krishna Nagar Phase II is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Mabuskanpettai, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to facilitate a smooth registration process.

When purchasing property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

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 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023, and finally to Rs 248 per sq.ft in 2024.

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

The land classification for Sri Krishna Nagar Phase II is Residential Special Type - I.

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

For a property valued at Rs 2,48,000, the stamp duty would be Rs 17,360 and the registration fee would be Rs 4,960, totaling Rs 22,320.

Which office handles property registrations for Sri Krishna Nagar Phase II?

The Thiruvottiyur Sub Registrar Office handles property registrations for Sri Krishna Nagar Phase II, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.