Guideline Value for KRISHNAPURI 1ST STREET

Krishnapuri 1st Street guideline value

The current guideline value of Krishnapuri 1st Street is Rs 11,500 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 II Type - III.

How the guideline value of Krishnapuri 1st Street has changed

The guideline value for Krishnapuri 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 10,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 7,035 per sq.ft. The 2023 revision increased the value to Rs 10,500 per sq.ft, and the latest 2024 revision raised it to Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing the 2024 guideline value of Krishnapuri 1st Street above this median.

• Krishnapuram Street: Rs 15,900 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 Krishnapuri 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total charges to Rs 10,35,000. 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 Krishnapuri 1st Street?

The Sub Registrar Office that covers Krishnapuri 1st 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 during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers and sellers should consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Krishnapuri 1st Street?

The current guideline value of Krishnapuri 1st Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,500 per sq.ft in 2012 to Rs 11,500 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the land classification of Krishnapuri 1st Street?

Krishnapuri 1st Street is classified as Residential Class II Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Krishnapuri 1st Street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Where is the Sub Registrar Office for Krishnapuri 1st Street located?

The Mylapore Sub Registrar Office, which covers Krishnapuri 1st Street, is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018.