Guideline Value for SRI KRISHNA NAGAR/EXT

Sri Krishna Nagar/Ext guideline value

The current guideline value of Sri Krishna Nagar/Ext is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Sri Krishna Nagar/Ext has changed

The guideline value for Sri Krishna Nagar/Ext has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, and the most recent revision in 2024 set the value at Rs 440 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2017 to 2024, it has increased by 64%. The current value of Rs 440 per sq.ft aligns with the median value of other streets in Vellivoyal for 2024.

Guideline values in Vellivoyal

In Vellivoyal, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 715 per sq.ft. The median value is Rs 440 per sq.ft, which is the same as the guideline value for Sri Krishna Nagar/Ext. The following are the guideline values for other streets in Vellivoyal:

• Sri Ram Nagar/Ext: Rs 440 per sq.ft (2024)
• Sri Sankara Vetrivel Garden: Rs 440 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• Silver Nagar/Ext: Rs 495 per sq.ft (2024)
• Thekkan Colony: Rs 440 per sq.ft (2024)
• Thirumurthi Nagar: Rs 715 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Nagar/Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Krishna Nagar/Ext?

The Sub Registrar Office that covers Sri Krishna Nagar/Ext 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 Vellivoyal

The guideline value is a crucial factor when registering property transactions in Vellivoyal. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar/Ext?

The current guideline value of Sri Krishna Nagar/Ext is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 268 per sq.ft to Rs 440 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Sri Krishna Nagar/Ext?

Sri Krishna Nagar/Ext is classified as Residential Class I Type - III, indicating its use for residential purposes.

What are the stamp duty rates applicable in Sri Krishna Nagar/Ext?

The stamp duty rate is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Krishna Nagar/Ext?

The Sub Registrar Office for Sri Krishna Nagar/Ext is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.