Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Mepur village under the Kunrathur SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Krishna Nagar has changed

Over the years, the guideline value of Sri Krishna Nagar has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 700 per sq.ft in 2012, marking a significant rise of 56%. However, the value then decreased by 33% to Rs 469 per sq.ft in the 2017 revision. The 2023 revision saw a notable increase to Rs 700 per sq.ft, which then rose by 10% to the current value of Rs 770 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 71%, reflecting the changes in the area over time.

Guideline values in Mepur

Mepur village has 22 streets under the Kunrathur SRO, with guideline values ranging from Rs 550 to Rs 2,955 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, which aligns with the current value of Sri Krishna Nagar.

• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar Phase II: Rs 770 per sq.ft (2024)
• Sri Balaji Nagar: Rs 660 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,955 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,480 per sq.ft (2024)
• Sri Srinivasa Co-op Nagar: Rs 770 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 rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Krishna Nagar?

The Sub Registrar Office covering Sri Krishna Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mepur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is often considered to establish the minimum value for tax purposes. 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 450 per sq.ft to Rs 770 per sq.ft in 2024, showing a total increase of 71% over the years.

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

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

Which office registers properties in Sri Krishna Nagar?

The Kunrathur Sub Registrar Office is responsible for registering properties in Sri Krishna Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What other streets in Mepur have guideline values?

Other streets in Mepur include Srinivasa Nagar, Sri Balaji Nagar Phase II, Sri Balaji Nagar, Sri Ambal Vijayalakshmi Nagar, Sri Sai Nagar, and Sri Srinivasa Co-op Nagar, with values ranging from Rs 550 to Rs 2,955 per sq.ft.