Guideline Value for Alaiamman Koil Street

Alaiamman Koil Street guideline value

The current guideline value of Alaiamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Alaiamman Koil Street has changed

The guideline value for Alaiamman Koil Street has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 4,000 per sq.ft, which increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +10%.

Thus, the most recent figures reflect a steady increase from Rs 4,000 in 2023 to Rs 4,400 in 2024. The current value is indicative of the ongoing adjustments in the guideline values within the region.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Alaiamman Koil Street's 2024 figure below that median.

• Alaiamman Koil Slum Clearance Road: Rs 4,400 per sq.ft (2024)
• Alaiamman Koil (Slum Area): Rs 4,400 per sq.ft (2024)
• Alwarpet 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 1st Lane: Rs 8,700 per sq.ft (2024)
• Alwarpet 1st Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 2nd Cross Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alaiamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 information.

Which Sub Registrar Office covers Alaiamman Koil Street?

The Sub Registrar Office that covers Alaiamman Koil 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 further assistance.

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

The guideline value is a crucial factor in 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 duties and fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Alaiamman Koil Street?

The current guideline value of Alaiamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a +10% change. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Alaiamman Koil Street?

Alaiamman Koil Street is classified as Residential Class IV Type - I. This classification indicates the type of development permissible in the area.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Alaiamman Koil Street?

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