Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has undergone several revisions over the years. In 2007, the value was Rs 360 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 150% rise. However, it saw a decrease to Rs 603 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 900 per sq.ft in 2023, before reaching the current figure of Rs 990 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value for Sri Krishna Nagar is below this median.

• Sri Krishna 4th Street Korukanthangal (Ward -18): Rs 660 per sq.ft (2024)
• Sri Lakshmi Nagar (Sa): Rs 660 per sq.ft (2024)
• Sri Maruthi Nagar (Sa): Rs 440 per sq.ft (2024)
• Sri Ganapathy Garden Permanur (Ward -15): Rs 440 per sq.ft (2024)
• Srinivasa Nagar (Kr): Rs 660 per sq.ft (2024)
• Sri Chandra Surya Gardens (Ward -15): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the 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?

The Sub Registrar Office that covers Sri Krishna Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Ninna Karai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair value of the property and is essential for calculating the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 360 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 175%.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

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

Which office handles registrations for Sri Krishna Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Krishna Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.