Guideline Value for sree krishna nagar phase 1

Sree Krishna Nagar Phase 1 guideline value

The current guideline value of Sree Krishna Nagar Phase 1 is Rs 400 per sq.ft. This property is located in Puthupakkam village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Sree Krishna Nagar Phase 1 has changed

Over the years, the guideline value for Sree Krishna Nagar Phase 1 has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 400 per sq.ft, the same as the previous year’s 2023 revision. Prior to that, in 2017, the value was Rs 268 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 400 per sq.ft, marking a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the guideline value register.

Guideline values in Puthupakkam

In Puthupakkam, there are seven streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the current guideline value of Sree Krishna Nagar Phase 1.

• Sree Krishna Nagar Phase-II: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-IV: Rs 400 per sq.ft (2024)
• Sai Nagar Phase - I: Rs 500 per sq.ft (2024)
• Vanchinathan Nagar: Rs 400 per sq.ft (2024)
• Nethaji Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Krishna Nagar Phase 1

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. 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 Sree Krishna Nagar Phase 1?

The Sub Registrar Office that covers Sree Krishna Nagar Phase 1 is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puthupakkam. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Sree Krishna Nagar Phase 1?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Sree Krishna Nagar Phase 1?

Sree Krishna Nagar Phase 1 is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office located for Sree Krishna Nagar Phase 1?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 36,000.