Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Arayapakkam village under the Madurandakam SRO, is Rs 203 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Krishna Nagar has changed

The guideline value of Sri Krishna Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 200 per sq.ft, and in the latest 2024 revision, it further rose to Rs 203 per sq.ft, reflecting a 2% increase from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 2%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arayapakkam

In Arayapakkam, there are 15 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 120 to Rs 400 per sq.ft. The median value for these streets is Rs 203 per sq.ft, placing Sri Krishna Nagar's current value at this median level.

• Sri Patchaiyammal Nagar: Rs 175 per sq.ft (2024)
• Sri Sairam Nagar: Rs 120 per sq.ft (2024)
• Sri Vari Avenue: Rs 300 per sq.ft (2024)
• Swomiyam Nagar: Rs 201 per sq.ft (2024)
• Royal City Phase - II Ext: Rs 250 per sq.ft (2024)
• Royal City Phase - I Ext: Rs 250 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 203 per sq.ft, the total guideline value amounts to Rs 2,03,000. The stamp duty at 7% would be Rs 14,210, and the registration fee at 2% would be Rs 4,060, making the total fees together Rs 18,270. 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Arayapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the registration requirements.

When registering a property, the guideline value is the baseline for calculating the applicable fees. It is essential to check the latest guideline value to avoid any discrepancies 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 203 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and finally to Rs 203 per sq.ft in 2024.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Sri Krishna Nagar?

For a property valued at Rs 2,03,000, the stamp duty would be Rs 14,210 and the registration fee would be Rs 4,060, totaling Rs 18,270.

Which office handles registrations for properties in Sri Krishna Nagar?

The Madurandakam Sub Registrar Office handles registrations for properties in Sri Krishna Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.