Guideline Value for Krishnaswamy Garden Street

Krishnaswamy Garden Street guideline value

The current guideline value of Krishnaswamy Garden Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in the Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Krishnaswamy Garden Street has changed

The guideline value for Krishnaswamy Garden Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 8,000 per sq.ft, and it increased to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

Prior to the 2023 revision, the register does not provide any figures for this street. The 2024 figure of Rs 8,700 per sq.ft is below the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, the guideline values for various streets range from Rs 4,400 to Rs 25,300 per sq.ft. The median value for the area is Rs 8,800 per sq.ft. Krishnaswamy Garden Street's 2024 figure is below this median.

• Kodambakkam High Road: Rs 14,300 per sq.ft (2024)
• Kavingnar Bharathidhasan Road: Rs 14,300 per sq.ft (2024)
• Kasthuri Ranga Road: Rs 17,500 per sq.ft (2024)
• Kasthuri Ranga 1st Lane: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate MainRoad: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 3rd Street: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaswamy Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Krishnaswamy Garden Street?

The Sub Registrar Office that covers Krishnaswamy Garden Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Krishnaswamy Garden Street?

The current guideline value of Krishnaswamy Garden Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, which is a +9% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for the 333 streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Krishnaswamy Garden Street's 2024 figure is below this median.

What are the stamp duty rates for properties in Krishnaswamy Garden Street?

The stamp duty rate for properties in Krishnaswamy Garden Street is 7%. This is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for Krishnaswamy Garden Street?

The Sub Registrar Office for Krishnaswamy Garden Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.