Guideline Value for CHIDAMBARAM SAMY KOIL STREET

Chidambaram Samy Koil Street guideline value

The current guideline value of Chidambaram Samy Koil Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Chidambaram Samy Koil Street has changed

The guideline value for Chidambaram Samy Koil Street has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 783 per sq.ft. This increased to Rs 870 per sq.ft in 2003, marking an 11% rise. The following revision in 2007 saw a significant jump to Rs 1,540 per sq.ft, which was a 77% increase. By 2012, the value remained at Rs 6,500 per sq.ft, and this figure was unchanged until the 2023 revision.

In 2023, the guideline value was again set at Rs 6,500 per sq.ft. However, in 2024, it increased to Rs 7,100 per sq.ft, reflecting a 9% rise. It is important to note that there is no figure available for the year 2017 in the register 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. The median value for these streets is Rs 8,800 per sq.ft, placing Chidambaram Samy Koil Street's 2024 figure below the median.

• Chidambaram Samy Koil 4th Street: Rs 7,100 per sq.ft (2024)
• Chidambaram Samy Koil 3rd Street: Rs 7,100 per sq.ft (2024)
• Chidambaram Samy Koil 2nd 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to 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 Street?

The Sub Registrar Office covering Chidambaram Samy Koil 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 plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the government and reflects the market conditions in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. 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 Street?

The current guideline value of Chidambaram Samy Koil 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, reflecting an overall increase of 807% over the years.

What is the land classification for Chidambaram Samy Koil Street?

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

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for Chidambaram Samy Koil Street?

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