Guideline Value for CHIDAMBARAM SAMY KOIL 2ND STREET

Chidambaram Samy Koil 2nd Street guideline value

The current guideline value of Chidambaram Samy Koil 2nd Street is Rs 7,100 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 IV Type - III.

How the guideline value of Chidambaram Samy Koil 2nd Street has changed

The guideline value for Chidambaram Samy Koil 2nd Street has seen several revisions since 2002. The value started at Rs 783 per sq.ft in 2002, increased to Rs 870 per sq.ft in 2003, and then rose significantly to Rs 1,540 per sq.ft in 2007, marking a 77% increase from the previous revision. The value remained unchanged at Rs 1,540 per sq.ft until 2012, when it jumped to Rs 6,500 per sq.ft, reflecting a remarkable increase of 322%.

In 2023, the guideline value was Rs 6,500 per sq.ft, and it saw a 9% increase to Rs 7,100 per sq.ft in 2024. Notably, there was no figure recorded for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 807%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing the 2024 guideline value for Chidambaram Samy Koil 2nd Street below this median.

• Chidambaram Samy Koil 3rd Street: Rs 7,100 per sq.ft (2024)
• Chidambaram Samy Koil 4th Street: Rs 7,100 per sq.ft (2024)
• Chidambaram Samy Koil Street: Rs 7,100 per sq.ft (2024)
• Chenkazhuneer Pilliayar Koil Street: Rs 11,000 per sq.ft (2024)
• Chitrakulam East Street: Rs 8,800 per sq.ft (2024)
• Chitrakulam North Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Samy Koil 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaram Samy Koil 2nd Street?

The Sub Registrar Office that covers Chidambaram Samy Koil 2nd 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 here.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value will influence the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall costs involved in property registration. Proper understanding of these values ensures compliance with local regulations and helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Chidambaram Samy Koil 2nd Street?

The current guideline value of Chidambaram Samy Koil 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 783 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 807%.

What is the stamp duty for property in Chidambaram Samy Koil 2nd Street?

The stamp duty for property in Chidambaram Samy Koil 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in this area?

The Mylapore Sub Registrar Office covers transactions for Chidambaram Samy Koil 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Chidambaram Samy Koil 2nd Street?

The land classification for Chidambaram Samy Koil 2nd Street is Residential Class IV Type - III.