Guideline Value for KRISHNA SHA 5TH STREET

Krishna Sha 5th Street guideline value

The current guideline value of Krishna Sha 5th 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 falls under the Residential Class V Type - III land classification.

How the guideline value of Krishna Sha 5th Street has changed

The guideline value for Krishna Sha 5th Street has seen several revisions over the years. In the 2002 revision, the value was Rs 833 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking an 11% increase. The value then rose to Rs 1,000 per sq.ft in 2007, showing an 8% increase. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, reflecting a 200% increase. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, indicating a decline of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 296%. There are no figures available in the register for the years not listed for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry 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 5th Street's 2024 guideline value is below this median.

• Krishna Sha 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 6th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 1st Street: Rs 3,300 per sq.ft (2024)
• Krishnasamy Street: Rs 8,800 per sq.ft (2024)
• Krishnaswamy Iyer Avenue: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Sha 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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.

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

Which Sub Registrar Office covers Krishna Sha 5th Street?

The Sub Registrar Office covering Krishna Sha 5th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered, and the applicable duties are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Krishna Sha 5th Street?

The current guideline value of Krishna Sha 5th 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, marking a total increase of 296% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Krishna Sha 5th Street?

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

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, while Krishna Sha 5th Street's guideline value is below this median at Rs 3,300 per sq.ft.