Guideline Value for KRISHNAPURI MAIN ROAD

Krishnapuri Main Road guideline value

The current guideline value of Krishnapuri Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Krishnapuri Main Road has changed

The guideline value for Krishnapuri Main Road has seen significant changes over the years. In the 2012 revision, the value was Rs 10,500 per sq.ft, which then decreased to Rs 7,035 per sq.ft in the 2017 revision. This was a drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 10,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making the guideline value of Krishnapuri Main Road above this median.

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

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 to Rs 10,35,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnapuri Main Road?

The Sub Registrar Office that covers Krishnapuri Main Road 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 is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnapuri Main Road?

The current guideline value of Krishnapuri Main Road 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, then back to Rs 10,500 per sq.ft in 2023, and finally to Rs 11,500 per sq.ft in 2024.

What is the land classification for Krishnapuri Main Road?

The land classification for Krishnapuri Main Road is Residential Class II Type - III.

Where can I find the Mylapore Sub Registrar Office?

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

How is the stamp duty calculated for properties in Mylapore?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 1,15,00,000, the stamp duty would be calculated at 7% of that amount.