Guideline Value for KRISHNAPURI 2ND STREET

Krishnapuri 2nd Street guideline value

The current guideline value of Krishnapuri 2nd 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 2nd Street has changed

The guideline value for Krishnapuri 2nd Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 10,500 per sq.ft, which was a decrease of 33% from the 2017 revision, where the value was Rs 7,035 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In 2023, the guideline value increased to Rs 10,500 per sq.ft, reflecting a significant rise of 49% from the 2017 figure. The most recent revision in 2024 has further increased the guideline value to Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 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, positioning Krishnapuri 2nd Street's 2024 figure above this median.

• Krishnapuri 1st Street: Rs 11,500 per sq.ft (2024)
• Krishnapuri Main Road: Rs 11,500 per sq.ft (2024)
• Krishnapuram Street: Rs 15,900 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 2nd 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, while the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. 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 detailed calculations.

Which Sub Registrar Office covers Krishnapuri 2nd Street?

The Sub Registrar Office that covers Krishnapuri 2nd 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

When buying or selling property in Mylapore, the guideline value is a crucial factor during the registration process. It serves as a reference point for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall transaction costs. Understanding the current guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnapuri 2nd Street?

The current guideline value of Krishnapuri 2nd 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 7,035 per sq.ft in 2017, and then increased to Rs 10,500 per sq.ft in 2023. The latest revision in 2024 set it at Rs 11,500 per sq.ft.

What are the registration fees for property in Krishnapuri 2nd Street?

The registration fees for property transactions are based on the guideline value. For a property valued at Rs 1,15,00,000, the stamp duty is Rs 8,05,000, and the registration fee is Rs 2,30,000, totaling Rs 10,35,000.

Which Sub Registrar Office handles transactions for Krishnapuri 2nd Street?

The Mylapore Sub Registrar Office handles transactions for Krishnapuri 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Krishnapuri 2nd Street?

Krishnapuri 2nd Street is classified as Residential Class II Type - III under the Mylapore SRO.