Guideline Value for KRISHNAN STREET

Krishnan Street guideline value

The current guideline value of Krishnan Street is Rs 8,800 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 III Type - III.

How the guideline value of Krishnan Street has changed

Over the years, the guideline value of Krishnan Street has seen significant changes. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase from the previous revision. By 2012, the guideline value remained at Rs 8,000 per sq.ft, showing no change from the previous figure. In 2023, it again held steady at Rs 8,000 per sq.ft before jumping to Rs 8,800 per sq.ft in 2024, a 10% increase.

It is noteworthy that there is no figure available for the 2017 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 909%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current value of Krishnan Street.

• Krishnapuram Street: Rs 15,900 per sq.ft (2024)
• Krishnapuri 1st Street: Rs 11,500 per sq.ft (2024)
• Krishnapuri 2nd Street: Rs 11,500 per sq.ft (2024)
• Krishnapuri Main Road: Rs 11,500 per sq.ft (2024)
• Krishnarajapuram: Rs 3,300 per sq.ft (2024)
• Krishnasamy Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 details.

Which Sub Registrar Office covers Krishnan Street?

The Sub Registrar Office that covers Krishnan 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnan Street?

The current guideline value of Krishnan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 909% over this period.

What is the registration office for Krishnan Street?

The registration office for Krishnan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty and registration fees for properties on Krishnan Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

What is the land classification of Krishnan Street?

Krishnan Street is classified as Residential Class III Type - III, indicating its designation for residential use.