Guideline Value for APPAVU KIRAMANI 3RD STREET (LANE)

Appavu Kiramani 3rd Street (Lane) guideline value

The current guideline value of Appavu Kiramani 3rd Street (Lane) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Appavu Kiramani 3rd Street (Lane) has changed

The guideline value for Appavu Kiramani 3rd Street (Lane) has undergone several revisions over the years. In 2002, the guideline value was Rs 959 per sq.ft. This figure increased to Rs 1,066 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, reflecting a 44% increase. By 2012, the value saw a substantial jump to Rs 8,000 per sq.ft, which was an increase of 419%. However, this figure dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 818%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Appavu Kiramani 3rd Street (Lane).

• Appavu Kiramani 2nd Street (Lane): Rs 8,800 per sq.ft (2024)
• Appavu Kiramani 4th Street (Lane): Rs 8,800 per sq.ft (2024)
• Appavu Kiramani 1st Street (Lane): Rs 8,800 per sq.ft (2024)
• Appu Mudali 1st Lane: Rs 8,800 per sq.ft (2024)
• Appu Mudali 2nd Lane: Rs 8,800 per sq.ft (2024)
• Appu Mudali Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Appavu Kiramani 3rd Street (Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, this would total 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.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Appavu Kiramani 3rd Street (Lane)?

The Sub Registrar Office that covers Appavu Kiramani 3rd Street (Lane) 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 during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value to understand the financial implications of the transaction. This value is essential for calculating the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Appavu Kiramani 3rd Street (Lane)?

The current guideline value of Appavu Kiramani 3rd Street (Lane) 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 959 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 818% over the years.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000. The stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office is responsible for Appavu Kiramani 3rd Street (Lane)?

The Mylapore Sub Registrar Office is responsible for Appavu Kiramani 3rd Street (Lane), located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Appavu Kiramani 3rd Street (Lane)?

The land classification for Appavu Kiramani 3rd Street (Lane) is Residential Class III Type - III.