Guideline Value for CHIDAMBARAM SAMY KOIL 3RD STREET

Chidambaram Samy Koil 3rd Street guideline value

The current guideline value of Chidambaram Samy Koil 3rd 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 3rd Street has changed

The guideline value for Chidambaram Samy Koil 3rd Street has seen significant changes over the years. In 2002, the value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 77% increase from the previous revision. The 2012 revision maintained the value at Rs 6,500 per sq.ft, which remained unchanged until the 2023 revision.

The 2023 revision also set the value at Rs 6,500 per sq.ft, but in 2024, the guideline value rose to Rs 7,100 per sq.ft, representing a 9% increase. It is noteworthy that there was no figure available for the 2017 revision for this street.

Guideline values in Mylapore

In Mylapore, 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, with a median value of Rs 8,800 per sq.ft. Chidambaram Samy Koil 3rd Street's 2024 guideline value is below this median.

• Chidambaram Samy Koil 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to 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, totaling Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chidambaram Samy Koil 3rd Street?

The Sub Registrar Office that covers Chidambaram Samy Koil 3rd 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 for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Mylapore. 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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chidambaram Samy Koil 3rd Street?

The current guideline value of Chidambaram Samy Koil 3rd 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 from Rs 783 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 807% over the years.

What is the stamp duty for a property in Chidambaram Samy Koil 3rd Street?

The stamp duty for a property in Chidambaram Samy Koil 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registration for Chidambaram Samy Koil 3rd Street?

The Mylapore Sub Registrar Office handles property registration for Chidambaram Samy Koil 3rd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

Are there other streets with the same guideline value in Mylapore?

Yes, several other streets in Mylapore have the same guideline value of Rs 7,100 per sq.ft in 2024, including Chidambaram Samy Koil 2nd Street, Chidambaram Samy Koil 4th Street, and Chidambaram Samy Koil Street.