Guideline Value for CHITRAKULAM SOUTH STREET

Chitrakulam South Street guideline value

The current guideline value of Chitrakulam South Street is Rs 8,800 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 III Type - III.

How the guideline value of Chitrakulam South Street has changed

The guideline value for Chitrakulam South Street has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 872 per sq.ft. This increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 2,365 per sq.ft in 2007, which represents a 144% increase from the previous revision. By 2012, the value remained at Rs 8,000 per sq.ft, showing no change from the 2012 revision. The next revision in 2023 also kept it at Rs 8,000 per sq.ft.

The most recent revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 909% for Chitrakulam South Street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 figure, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which matches the current value of Chitrakulam South Street.

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

Stamp duty and registration fee for property in Chitrakulam South Street

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, the total cost for stamp duty and registration would be 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitrakulam South Street?

The Sub Registrar Office that covers Chitrakulam South 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chitrakulam South Street?

The current guideline value of Chitrakulam South Street 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 increased from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 909% over the years.

What is the stamp duty for property in Chitrakulam South Street?

The stamp duty for property in Chitrakulam South Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mylapore located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have varying guideline values, with Chitrakulam North Street and Chitrakulam East Street both at Rs 8,800 per sq.ft, while Chitrakulam West Street is at Rs 11,000 per sq.ft.