Guideline Value for Sree Krishna Nagar Phase-II

Sree Krishna Nagar Phase-II guideline value

The current guideline value for Sree Krishna Nagar Phase-II is Rs 400 per sq.ft. This property is located in Puthupakkam village under the Chengleput Joint I SRO and is classified as Residential Special Type - I.

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

The guideline value for Sree Krishna Nagar Phase-II has undergone several revisions over the years. In 2012, the guideline value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, which decreased the value to Rs 268 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. The 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing a net change of 0% during this period.

Guideline values in Puthupakkam

In Puthupakkam, there are 7 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 matches the guideline value for Sree Krishna Nagar Phase-II.

• Sree Krishna Nagar Phase 1: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-IV: 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-II

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 at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 Sree Krishna Nagar Phase-II?

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Puthupakkam. 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 helps ensure that the transaction is registered at a fair value, which is essential for both the buyer and seller. This value is used to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Sree Krishna Nagar Phase-II?

The current guideline value for Sree Krishna Nagar Phase-II 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 a decrease to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023 and remaining unchanged in 2024.

What is the classification of land in Sree Krishna Nagar Phase-II?

The land in Sree Krishna Nagar Phase-II is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at a rate of 7%.