Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Melakottyur village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Krishna Nagar has changed

The guideline value of Sri Krishna Nagar has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. However, it decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. The most recent 2023 revision restored the value back to Rs 1,000 per sq.ft, resulting in a significant increase of 49% from the 2017 figure.

Overall, comparing the 2012 and 2023 revisions, the guideline value remains unchanged at Rs 1,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values available for other streets in Melakottyur under the Gooduvancheri SRO. The guideline value for Sri Krishna Nagar is Rs 1,000 per sq.ft as of 2023.

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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration would be Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Krishna Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Krishna Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Melakottyur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for tax purposes. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023.

What is the stamp duty rate for property in Sri Krishna Nagar?

The stamp duty rate for property in Sri Krishna Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is registered at a value that complies with local regulations.