Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 2,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Sri Krishna Nagar's 2024 figure above the median.

• Sri Krishna Nagar (Moolachatram) (Ward-02): Rs 1,600 per sq.ft (2024)
• Srikandhan Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Sri Kandan Nagar: Rs 1,300 per sq.ft (2024)
• Sri Krishna Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Srikrishna Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Sri Lalitha Garden: Rs 1,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Krishna Nagar?

The Sub Registrar Office covering Sri Krishna Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees applicable on the transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to compute the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Class I Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Sri Krishna Nagar?

The Madhavaram Sub Registrar Office covers Sri Krishna Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.