Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A and falls under the Kunrathur SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has seen several revisions over the years. In 2017, the value was set at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. This progression highlights the significant changes in the guideline value over the years.

Guideline values in Mangadu -A

Mangadu -A has a total of 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median of Rs 1,870 per sq.ft. The guideline value of Sri Krishna Nagar is above this median.

• Sri Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe II: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sri Kali Amman Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 1,480 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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?

The Sub Registrar Office that covers Sri Krishna Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is an essential factor when buying or selling property in Mangadu -A, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Mangadu -A with their guideline values?

Other streets in Mangadu -A include Sri Lakshmi Avenue at Rs 1,540 per sq.ft, Sri Kamatchi Avenue at Rs 2,200 per sq.ft, and several others with varying values.

How is the 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, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,92,500 based on the current guideline value.

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

The Sub Registrar Office for Sri Krishna Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details by visiting the appropriate link.