Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Menambedu village under the Ambattur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Sri Krishna Nagar has changed

The guideline value of Sri Krishna Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,001 per sq.ft, which is a slight increase from Rs 1,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 536 per sq.ft, showing a significant increase of 87% from the previous 2023 figure. The 2012 revision had set the guideline value at Rs 800 per sq.ft, which was a decrease of 33% compared to the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 25%. The historical revisions highlight the fluctuations in property values over time, reflecting changes in the real estate landscape in the area.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, indicating that the guideline value of Sri Krishna Nagar is below this median.

• Sri Devi Karumariamman Nagar: Rs 1,002 per sq.ft (2024)
• Srinivasan Street (Ward 6): Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 7): Rs 1,700 per sq.ft (2024)
• Sri Raja Rajaeswari Nagar: Rs 1,002 per sq.ft (2024)
• Sowcar Street: Rs 1,700 per sq.ft (2024)
• Sounder Street: Rs 1,700 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 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty is charged at 7%, which totals Rs 70,070, and the registration fee at 2% amounts to Rs 20,020. Therefore, the total cost for stamp duty and registration fees together would be Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Krishna Nagar?

The Sub Registrar Office that covers Sri Krishna Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property dealings and assists in the legal documentation process.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 25% over this period.

What is the stamp duty rate for properties in Sri Krishna Nagar?

The stamp duty rate for properties in Sri Krishna Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Sri Krishna Nagar?

The Ambattur Sub Registrar Office is responsible for Sri Krishna Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the guideline values of other streets in Menambedu?

Other streets in Menambedu have varying guideline values, with rates ranging from Rs 1,000 to Rs 6,680 per sq.ft. For example, Sri Devi Karumariamman Nagar has a guideline value of Rs 1,002 per sq.ft, while several streets like Sowcar Street and Srinivasan Street (Ward 6 and Ward 7) are valued at Rs 1,700 per sq.ft.