Guideline Value for KRISHNA SHA 6TH STREET

Krishna Sha 6th Street guideline value

The current guideline value of Krishna Sha 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Krishna Sha 6th Street has changed

The guideline value for Krishna Sha 6th 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. Following this, there was a significant jump to Rs 3,000 per sq.ft in 2012, but this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose again to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2007 in the register for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 296%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, 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 6th Street's guideline value is below this median.

• Krishna Sha 5th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 4th 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 6th 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 amount for duty and registration fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishna Sha 6th Street?

The Sub Registrar Office that covers Krishna Sha 6th 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 when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When a property transaction occurs, the guideline value ensures that the government collects the appropriate taxes. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Krishna Sha 6th Street?

The current guideline value of Krishna Sha 6th 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 is the land classification for Krishna Sha 6th Street?

The land classification for Krishna Sha 6th Street is Residential Class V Type - III.

Where can I find the Sub Registrar Office for Krishna Sha 6th Street?

The Sub Registrar Office for Krishna Sha 6th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Krishna Sha 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to specific stamp duty and registration fees.