Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar in Kilakadi village is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Salavakkam SRO and is classified as Mixed Type - III land.

How the guideline value of Sri Krishna Nagar has changed

In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 250 per sq.ft. The 2024 revision also maintained the guideline value at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, there has been a 50% increase in the guideline value. The consistent figure of Rs 250 per sq.ft from 2023 to 2024 indicates stability in the valuation during this period.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Sri Krishna Nagar's 2024 figure above this median.

• Sri Krishna Nagar Ph-I: Rs 336 per sq.ft (2024)
• Sri Sai Thuvaraga Nagar: Rs 250 per sq.ft (2024)
• Selva Seeman Nagaram: Rs 101 per sq.ft (2024)
• Rose Nagar: Rs 150 per sq.ft (2024)
• Riviera Greens: Rs 336 per sq.ft (2024)
• Vajiram Nagar: Rs 150 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Krishna Nagar?

Sri Krishna Nagar is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kilakadi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is used to assess the applicable charges. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with the 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 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023 and remained unchanged in 2024. Overall, this represents a 50% increase from 2017 to 2024.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Mixed Type - III land, which indicates its diverse usage potential.

How is stamp duty calculated for properties in Sri Krishna Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

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

The Sub Registrar Office covering Sri Krishna Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.