Guideline Value for SRI KRISHNA NAGAR

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Kovilkuppam village under the Manavalanagar SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Krishna Nagar has changed

In the 2012 revision, the guideline value for Sri Krishna Nagar was set at Rs 300 per sq.ft. This value remained unchanged in the subsequent revisions of 2017 and 2023, where it continued to be Rs 300 per sq.ft. The 2017 revision saw a significant increase from the 2012 figure of Rs 300 to Rs 201 per sq.ft, marking a decrease of 33%. From 2017 to 2023, the value rose by 49% back to Rs 300 per sq.ft.

As of the latest 2024 revision, the guideline value remains at Rs 300 per sq.ft, showing no change from the previous year. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Kovilkuppam

In Kovilkuppam, there are 68 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Sri Krishna Nagar's 2024 figure is below this median.

• Sri Ganapathy Nagar: Rs 300 per sq.ft (2024)
• Srivari Nagar: Rs 300 per sq.ft (2024)
• Surya Town: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. 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?

The Sub Registrar Office that covers Sri Krishna Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Krishna Nagar has remained Rs 300 per sq.ft in the revisions of 2023 and 2024. However, it increased from Rs 201 per sq.ft in 2017, marking a 49% increase, and decreased from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017.

What are the guideline values of other streets in Kovilkuppam?

Other streets in Kovilkuppam have varying guideline values, with some streets like S V Nagar at Rs 350 per sq.ft, while others like Sri Ganapathy Nagar and Srivari Nagar are at Rs 300 per sq.ft.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000.

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

The Sub Registrar Office for Sri Krishna Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.