Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Chembarambakkam village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

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 2012, the value was set at Rs 1,400 per sq.ft. This figure then decreased to Rs 938 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,540 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sri Krishna Nagar is above this median.

• Sri Golden City J J Nagar: Rs 878 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Srinivasa Palms @ Sembarambakkam: Rs 3,500 per sq.ft (2024)
• Spotlight: Rs 2,700 per sq.ft (2024)
• Spartan Enclave: Rs 1,540 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,100 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 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, totaling Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Chembarambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sri Krishna Nagar?

The Sub Registrar Office for Sri Krishna Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Sri Krishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,07,800 at 7% of Rs 15,40,000.