Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,102 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Krishna Nagar has changed

The guideline value for Sri Krishna Nagar has undergone several revisions over the years. In 2002, the value was Rs 497 per sq.ft, which then saw a decrease to Rs 51 per sq.ft in 2003. Following this, the value increased significantly to Rs 200 per sq.ft in 2007, and further rose to Rs 700 per sq.ft in 2012. However, there was a decrease to Rs 469 per sq.ft in 2017. The most recent revisions show the value at Rs 1,000 per sq.ft in 2023, and it has increased to Rs 1,102 per sq.ft in 2024.

Notably, the changes between these revisions highlight a 10% increase from 2023 to 2024, a remarkable 113% increase from 2017 to 2023, and a significant 250% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects a 122% increase in the guideline value.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, which aligns with the current guideline value of Sri Krishna Nagar.

• Sri Jai Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar (S.No.238/1,2): Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar Partr-3 Extn: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar Part-IV: 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 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty, calculated at 7%, would be Rs 77,140, while the registration fee at 2% would be Rs 22,040. Thus, the total cost for stamp duty and registration fee would be Rs 99,180. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value serves as a benchmark for determining the minimum price at which property transactions can be registered. When buying or selling property in Puzhal, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. Understanding the current guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 497 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, reflecting a 122% increase overall.

What is the land classification of Sri Krishna Nagar?

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

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 99,180, based on the current guideline value.

Which office handles registrations for Sri Krishna Nagar?

The Redhills Sub Registrar Office handles registrations for Sri Krishna Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.