Guideline Value for krishna Nagar

krishna Nagar guideline value

The current guideline value of krishna Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Vadamelpakkam village under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of krishna Nagar has changed

Over the years, the guideline value for krishna Nagar has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 350 per sq.ft. The 2017 revision saw a decrease to Rs 234 per sq.ft, marking a -33% change from the previous figure. The 2024 revision has brought the value back to Rs 350 per sq.ft, resulting in a 0% change from the 2023 revision.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 350 to Rs 1,000 per sq.ft. The median value is Rs 350 per sq.ft, which aligns with the current guideline value of krishna Nagar.

• Kannaya Garden: Rs 975 per sq.ft (2024)
• Mavasorra Garden Extension: Rs 350 per sq.ft (2024)
• Mavsorva Garden: Rs 350 per sq.ft (2024)
• Ganthi Nagar: Rs 350 per sq.ft (2024)
• Galaxy Divine castle: Rs 650 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in krishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers krishna Nagar?

The krishna Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vadamelpakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the transaction. The registration office uses this value to assess the appropriate fees, which are based on the higher of the guideline value or the sale price, ensuring that all transactions are fairly evaluated.

Frequently asked questions

What is the current guideline value of krishna Nagar?

The current guideline value of krishna Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since the 2012 revision, with a decrease to Rs 234 per sq.ft in 2017 and a return to Rs 350 per sq.ft in 2024.

What are the other streets in Vadamelpakkam with their guideline values?

Other streets in Vadamelpakkam include Kannaya Garden at Rs 975 per sq.ft, Mavasorra Garden Extension at Rs 350 per sq.ft, and others ranging from Rs 350 to Rs 1,000 per sq.ft.

What fees are associated with buying property in krishna Nagar?

When buying property in krishna Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 31,500.

Where is the Sub Registrar Office for krishna Nagar located?

The Sub Registrar Office covering krishna Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.