Guideline Value for KRISHNASAMY STREET

Krishnasamy Street guideline value

The current guideline value of Krishnasamy Street in Mylapore village, under the Mylapore SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - III.

How the guideline value of Krishnasamy Street has changed

The guideline value for Krishnasamy Street has seen several revisions over the years. In 2002, the value was Rs 988 per sq.ft, which increased to Rs 1,098 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 40% increase. The 2012 revision set the value at Rs 8,000 per sq.ft, showing a significant rise of 419% from the previous figure. However, in 2017, the value dropped to Rs 5,360 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 8,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 8,800 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value for Krishnasamy Street has increased by 791%. There are no figures available for the revisions in any other years for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which aligns with the current value of Krishnasamy Street.

• Krishna Sha 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 5th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 6th Street: Rs 3,300 per sq.ft (2024)
• Krishnarajapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnasamy Street?

The Sub Registrar Office that covers Krishnasamy 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 further assistance.

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 serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Krishnasamy Street?

The current guideline value of Krishnasamy Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 988 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 791% over the years.

What is the land classification for Krishnasamy Street?

Krishnasamy Street is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Krishnasamy Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total cost of Rs 7,92,000 in fees.