Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - III.

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 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017 before rising to Rs 1,200 per sq.ft again in 2023. The latest revision in 2024 set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 saw a remarkable rise of 380%, while the overall increase from 2007 to 2024 is 428%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Sri Krishna Nagar above this median.

• Sri Ganesha Nagar: Rs 1,325 per sq.ft (2024)
• Sri Balaji Nagar: Rs 990 per sq.ft (2024)
• Sri Baba Nagar: Rs 770 per sq.ft (2024)
• Sriram Nagar: Rs 1,320 per sq.ft (2024)
• Sri Ananthanathan Nagar: Rs 990 per sq.ft (2024)
• Sri Sai Nagar: Rs 990 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mannivakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price in accordance with the local regulations.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that need to be paid. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 428% over the years.

What is the median guideline value in Mannivakkam?

The median guideline value for streets in Mannivakkam is Rs 1,215 per sq.ft, with Sri Krishna Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Sri Krishna Nagar?

For a 1,000 sq.ft plot at the current rate, the total stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.