Guideline Value for KRISHNAPURAM STREET

Krishnapuram Street guideline value

The current guideline value of Krishnapuram Street is Rs 15,900 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 I Type - II.

How the guideline value of Krishnapuram Street has changed

Looking at the historical revisions, the guideline value for Krishnapuram Street has seen significant changes over the years. In 2002, the value was Rs 1,382 per sq.ft, which rose to Rs 1,535 per sq.ft in 2003, marking an increase of 11%. The value remained stable at Rs 1,540 per sq.ft in 2007, and then saw a dramatic rise to Rs 14,500 per sq.ft in 2012, reflecting an increase of 842%. The value did not change from 2012 to 2023, where it remained at Rs 14,500 per sq.ft, before increasing to Rs 15,900 per sq.ft in the 2024 revision, which is a 10% rise.

It is important to note that there is no figure for Krishnapuram Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 1051%.

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 guideline value in this area is Rs 8,800 per sq.ft, placing Krishnapuram Street's 2024 figure above that median.

• 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)
• Krishna Sha 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, while the registration fee at 2% would be Rs 3,18,000. Together, the total fees would be Rs 14,31,000. It is important to note that the 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 Krishnapuram Street?

The Sub Registrar Office that covers Krishnapuram 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 of property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale or purchase of property.

When registering a property, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnapuram Street?

The current guideline value of Krishnapuram Street is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,382 per sq.ft in 2002 to Rs 15,900 per sq.ft in 2024, marking an overall increase of 1051% over the years.

What is the land classification for Krishnapuram Street?

Krishnapuram Street is classified as Residential Class I Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Krishnapuram Street?

For a property valued at the current guideline value, the total stamp duty and registration fees can amount to Rs 14,31,000 for a 1,000 sq.ft plot, based on the applicable rates.

Where is the Sub Registrar Office located for Krishnapuram Street?

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