Guideline Value for CHITRAKULAM WEST STREET

Chitrakulam West Street guideline value

The current guideline value of Chitrakulam West Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Chitrakulam West Street has changed

The guideline value for Chitrakulam West Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,381 per sq.ft, which increased to Rs 1,534 per sq.ft in 2003, marking an increase of 11%. The following revisions showed a substantial rise, with the value jumping to Rs 1,540 per sq.ft in 2007, remaining unchanged until 2012, where it was still Rs 10,000 per sq.ft. The 2012 to 2023 period saw no change, maintaining the value at Rs 10,000 per sq.ft until the latest revision in 2024.

The most recent revision in 2024 brought a notable increase of 10%, raising the guideline value to Rs 11,000 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 697%. 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 guideline value is Rs 8,800 per sq.ft, placing Chitrakulam West Street's 2024 figure above this median.

• Chitrakulam South Street: Rs 8,800 per sq.ft (2024)
• Chitrakulam North Street: Rs 8,800 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitrakulam West Street?

The Sub Registrar Office covering Chitrakulam West 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 crucial factor when buying or selling property in Mylapore. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the transaction is accurately reflected in the official records.

Frequently asked questions

What is the current guideline value of Chitrakulam West Street?

The current guideline value of Chitrakulam West Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,381 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 697% over the years.

What is the land classification for Chitrakulam West Street?

The land classification for Chitrakulam West Street is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Mylapore?

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

How is stamp duty calculated for properties in Chitrakulam West Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.