Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Vellanoor-2 village under the Avadi SRO, is Rs 555 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision sees another increase to Rs 555 per sq.ft, reflecting an 11% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for the revisions from 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellanoor-2

In Vellanoor-2, there are 31 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,800 per sq.ft, with the median being Rs 555 per sq.ft. The guideline value for Sri Krishna Nagar aligns with this median.

• Sri Ganga Nagar: Rs 555 per sq.ft (2024)
• Sri Ganapathy Nagar Annexe: Rs 440 per sq.ft (2024)
• Sri Perumal Nagar: Rs 555 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 555 per sq.ft (2024)
• Thanigai Nagar: Rs 555 per sq.ft (2024)
• Saraswathi Gopal Nagar: Rs 555 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 amounts to Rs 5,55,000. The stamp duty, calculated at 7%, would be Rs 38,850, while the registration fee at 2% would be Rs 11,100. Together, the total cost for stamp duty and registration fee would be Rs 49,950. It is important to note that 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 falls under 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-2

The guideline value is a crucial factor in the registration process when buying or selling property in Vellanoor-2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of their transactions. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

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?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and now to Rs 555 per sq.ft in 2024, reflecting significant changes over the years.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Class I 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 5,55,000, the stamp duty would be Rs 38,850 and the registration fee would be Rs 11,100, totaling Rs 49,950.

Where is the Sub Registrar Office for Sri Krishna Nagar located?

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