Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rebounded to Rs 1,800 per sq.ft in the 2023 revision and then increased to Rs 1,950 per sq.ft in the 2024 revision, marking an 8% rise.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value is Rs 1,950 per sq.ft, which is equal to the current guideline value of Sri Krishna Nagar.

• Sri Sai Nagar: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Annexe: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-II: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-III: Rs 3,200 per sq.ft (2024)
• Soundarya Garden: Rs 1,950 per sq.ft (2024)
• Tellus Avenue: Rs 3,200 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 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000. Together, these fees would total Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Krishna Nagar?

The Sub Registrar Office that covers Sri Krishna Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Ottiyampakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, and it ensures that the transaction is registered at a fair price.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This practice helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the median guideline value in Ottiyampakkam?

The median guideline value in Ottiyampakkam is Rs 1,950 per sq.ft, which is the same as the current guideline value for Sri Krishna Nagar.

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

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Which office handles property registration for Sri Krishna Nagar?

The Selaiyur Sub Registrar Office handles property registration for Sri Krishna Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.