Guideline Value for Sree Krishna Nagar Phase-III

Sree Krishna Nagar Phase-III guideline value

The current guideline value of Sree Krishna Nagar Phase-III, located in Puthupakkam village under the Chengleput Joint I SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sree Krishna Nagar Phase-III has changed

The guideline value for Sree Krishna Nagar Phase-III has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 400 per sq.ft. In 2017, the value decreased to Rs 268 per sq.ft, marking a decline of 33%. However, by 2023, the value had risen to Rs 400 per sq.ft, reflecting a significant increase of 49% from the 2017 figure. The current 2024 revision maintains this value at Rs 400 per sq.ft, showing no change from the previous year.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 400 per sq.ft.

Guideline values in Puthupakkam

In Puthupakkam, there are seven streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the 2024 figure for Sree Krishna Nagar Phase-III.

• Sree Krishna Nagar Phase-II: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-IV: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase 1: Rs 400 per sq.ft (2024)
• Sai Nagar Phase - I: Rs 500 per sq.ft (2024)
• Vanchinathan Nagar: Rs 400 per sq.ft (2024)
• Nethaji Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Krishna Nagar Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000. Therefore, the total amount for stamp duty and registration fee together would be Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sree Krishna Nagar Phase-III?

The Sree Krishna Nagar Phase-III falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is registered, the stamp duty and registration fees are calculated 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 Sree Krishna Nagar Phase-III?

The current guideline value of Sree Krishna Nagar Phase-III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant being a decrease to Rs 268 per sq.ft in 2017, followed by a return to Rs 400 per sq.ft in 2023 and 2024.

What are the other streets in Puthupakkam with their guideline values?

Other streets in Puthupakkam include Sree Krishna Nagar Phase-II, Phase-IV, and Phase 1, all valued at Rs 400 per sq.ft in 2024, along with Sai Nagar Phase - I at Rs 500 per sq.ft, Vanchinathan Nagar at Rs 400 per sq.ft, and Nethaji Nagar at Rs 450 per sq.ft.

What is the stamp duty for a property in Sree Krishna Nagar Phase-III?

The stamp duty for a property in Sree Krishna Nagar Phase-III is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 28,000.

Where can I find the Sub Registrar Office for Sree Krishna Nagar Phase-III?

The Sub Registrar Office covering Sree Krishna Nagar Phase-III is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.