Guideline Value for KRISHNASWAMY IYER AVENUE

Krishnaswamy Iyer Avenue guideline value

The current guideline value of Krishnaswamy Iyer Avenue is Rs 16,500 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 I Type - I.

How the guideline value of Krishnaswamy Iyer Avenue has changed

The guideline value for Krishnaswamy Iyer Avenue has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 16,500 per sq.ft, which represents a 10% increase from the 2023 revision of Rs 15,000 per sq.ft. Looking back further, the 2012 revision also recorded a guideline value of Rs 15,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The consistent value of Rs 15,000 per sq.ft from 2012 to 2023 shows stability in this period before the recent increase.

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, with a median value of Rs 8,800 per sq.ft. Krishnaswamy Iyer Avenue's 2024 guideline value is above this median, highlighting its higher valuation compared to many other streets in the area.

• Krishna Sha 6th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 5th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 4th Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 2nd Street: Rs 3,300 per sq.ft (2024)
• Krishna Sha 1st Street: Rs 3,300 per sq.ft (2024)
• Krishnasamy Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaswamy Iyer Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total costs to Rs 14,85,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnaswamy Iyer Avenue?

The Sub Registrar Office covering Krishnaswamy Iyer Avenue 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 critical factor during property transactions in Mylapore, as it determines the amount of stamp duty and registration fees payable. When buying or selling property, the guideline value is used to assess the official value of the property for registration purposes.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations associated with property transactions. Understanding the guideline value can help in planning the budget for the purchase or sale of property in the area.

Frequently asked questions

What is the current guideline value of Krishnaswamy Iyer Avenue?

The current guideline value of Krishnaswamy Iyer Avenue is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 15,000 per sq.ft in 2023 to Rs 16,500 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, with the value remaining at Rs 15,000 per sq.ft.

What is the land classification of Krishnaswamy Iyer Avenue?

Krishnaswamy Iyer Avenue is classified as Residential Class I Type - I, indicating its designation for residential use.

What is the stamp duty rate for properties in Mylapore?

The stamp duty rate for properties in Mylapore is 7% of the guideline value or the sale price, whichever is higher. This is applicable during property registration.

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. You can also find your SRO online.