Guideline Value for Sri Krishna Nagar

Sri Krishna Nagar guideline value

The current guideline value of Sri Krishna Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Krishna Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the guideline value was Rs 121 per sq.ft, which increased to Rs 132 per sq.ft in 2003, marking a 9% rise. The value surged dramatically to Rs 1,000 per sq.ft in 2007, reflecting a 658% increase. By 2012, the value remained at Rs 4,000 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 4,000 per sq.ft, and then it increased to Rs 4,400 per sq.ft in 2024, representing a 10% rise.

The register has no figure for this street for the year 2017. Overall, from 2002 to 2024, the guideline value has increased by 3536%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Sri Krishna Nagar above this median.

• Sri Lakshmi Avenue / Colony: Rs 2,700 per sq.ft (2024)
• Sri Jayaram Nagar: Rs 4,400 per sq.ft (2024)
• Sri Manigandan Nagar: Rs 2,700 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 4,400 per sq.ft (2024)
• Sri Nagar Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 2nd Street: Rs 3,300 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Sembiam Sub Registrar Office covers Sri Krishna Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Krishna Nagar?

The current guideline value of Sri Krishna Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 121 per sq.ft to Rs 4,400 per sq.ft in 2024, showing a significant overall increase of 3536%.

What is the land classification for Sri Krishna Nagar?

Sri Krishna Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Which office handles property registration for Sri Krishna Nagar?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registration for Sri Krishna Nagar.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 3,96,000.