Guideline Value for KRISHNA SHA 1ST STREET

Krishna Sha 1st Street guideline value

The current guideline value of Krishna Sha 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Krishna Sha 1st Street has changed

The guideline value for Krishna Sha 1st Street has undergone several revisions over the years. In 2002, the value was Rs 833 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking an 11% rise. The value then saw a modest increase of 8% to reach Rs 1,000 per sq.ft in 2007. A significant jump occurred in 2012, where the value doubled to Rs 3,000 per sq.ft, reflecting a 200% increase. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%.

In the subsequent years, the guideline value rose again, reaching Rs 3,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from 2023. The register has no figure for this street in the years not listed.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Krishna Sha 1st Street's 2024 guideline value is below this median.

• Krishnasamy Street: Rs 8,800 per sq.ft (2024)
• Krishna Sha 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 5th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 6th Street: Rs 3,300 per sq.ft (2024)
• Krishnarajapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Sha 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishna Sha 1st Street?

The Sub Registrar Office that covers Krishna Sha 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set competitive prices based on the current guideline value.

Frequently asked questions

What is the current guideline value of Krishna Sha 1st Street?

The current guideline value of Krishna Sha 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 833 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

What is the land classification for Krishna Sha 1st Street?

The land classification for Krishna Sha 1st Street is Residential Class V Type - III.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value of Rs 33,00,000.

Which Sub Registrar Office handles transactions for Krishna Sha 1st Street?

The Mylapore Sub Registrar Office handles transactions for Krishna Sha 1st Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.