Guideline Value for KRISHNA SHA 2ND STREET

Krishna Sha 2nd Street guideline value

The current guideline value of Krishna Sha 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Krishna Sha 2nd Street has changed

The guideline value for Krishna Sha 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 833 per sq.ft. It increased to Rs 926 per sq.ft in 2003, followed by a rise to Rs 1,000 per sq.ft in 2007. The value then saw a significant jump to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023 and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2002 to 2003, the increase was +11%; from 2003 to 2007, it was +8%; from 2007 to 2012, it was +200%; from 2012 to 2017, it was -33%; and from 2017 to 2023, it was +49%. Overall, the guideline value has increased by +296% from 2002 to 2024.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that Krishna Sha 2nd Street's 2024 figure is below this median.

• Krishna Sha 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 4th Street: Rs 3,300 per sq.ft (2024)
• Krishnasamy Street: Rs 8,800 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. 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 Krishna Sha 2nd Street?

The Sub Registrar Office that covers Krishna Sha 2nd 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property dealings, as all transactions are subject to the same valuation standards set by the registration department.

Frequently asked questions

What is the current guideline value of Krishna Sha 2nd Street?

The current guideline value of Krishna Sha 2nd 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 this period.

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with the same guideline value of Rs 3,300 per sq.ft in 2024 include Krishna Sha 1st Street, Krishna Sha 4th Street, Krishna Sha 5th Street, Krishna Sha 6th Street, and Krishnarajapuram.

What is the registration fee for property in Krishna Sha 2nd Street?

The registration fee for property transactions is 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Krishna Sha 2nd Street?

The Sub Registrar Office for Krishna Sha 2nd Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.