Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This area is located in Vellanoor-1 village, under the Avadi SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 555 per sq.ft, marking an increase of 11% from the previous year. The changes from 2017 to 2023 reflect a significant rise of 49%, and overall, from 2017 to 2024, the guideline value has increased by 66%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which matches the guideline value of Sri Krishna Nagar.

• Sri Ganapathy Nagar Annexe: Rs 440 per sq.ft (2024)
• Sri Perumal Nagar: Rs 555 per sq.ft (2024)
• Sri Sivasakthi Nagar: Rs 555 per sq.ft (2024)
• Shreyas Mini Town: Rs 1,980 per sq.ft (2024)
• Thanigai Nagar: Rs 555 per sq.ft (2024)
• Saroja Ammal Nagar: Rs 440 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 555 per sq.ft, the total guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, bringing the total to Rs 49,950. 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?

Sri Krishna Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value is a crucial factor when buying or selling property in Vellanoor-1. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 555 per sq.ft in 2024, marking an overall increase of 66%.

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

For a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850, and the registration fee would be Rs 11,100, totaling Rs 49,950.

Which Sub Registrar Office is responsible for Sri Krishna Nagar?

The Avadi Sub Registrar Office covers Sri Krishna Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.