Guideline Value for KRISHNARAJAPURAM

Krishnarajapuram guideline value

The current guideline value of Krishnarajapuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO), and is classified as Residential Class V Type - III.

How the guideline value of Krishnarajapuram has changed

Over the years, the guideline value of Krishnarajapuram has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 590 per sq.ft. This increased to Rs 656 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 900 per sq.ft in 2007, reflecting a 37% increase. By 2012, the guideline value remained at Rs 3,000 per sq.ft, and this figure continued unchanged until 2023. In 2024, the guideline value was revised to Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

Notably, there is no figure for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 459%, showcasing the substantial growth in this area.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this village is Rs 8,800 per sq.ft, placing Krishnarajapuram's 2024 figure below that median.

• Krishnapuri Main Road: Rs 11,500 per sq.ft (2024)
• Krishnapuri 2nd Street: Rs 11,500 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 Krishnarajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishnarajapuram?

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

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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Krishnarajapuram?

The current guideline value of Krishnarajapuram is Rs 3,300 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 590 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 459% over the years.

What is the registration office for Krishnarajapuram?

The registration office for Krishnarajapuram 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 a property in Krishnarajapuram?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find more information about stamp duty and registration fees?

For more detailed information and calculations regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.