Guideline Value for CHUNNAMBU KALVAI STREET

Chunnambu Kalvai Street guideline value

The current guideline value of Chunnambu Kalvai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Chunnambu Kalvai Street has changed

The guideline value for Chunnambu Kalvai Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 900 per sq.ft, reflecting a 32% increase from the previous revision. The 2012 revision saw the value increase to Rs 3,000 per sq.ft, which was a substantial 233% rise from 2007. However, in 2017, the value dropped to Rs 2,010 per sq.ft, showing a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years between these revisions for Chunnambu Kalvai Street. Overall, from 2002 to 2024, the guideline value has increased by 439%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that Chunnambu Kalvai Street's 2024 figure is below this median.

• Cit Colony 1st Cross Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 1st Link Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 1st Main Road: Rs 13,200 per sq.ft (2024)
• Cit Colony 2nd Cross Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 2nd Link Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 2nd Main Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chunnambu Kalvai Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chunnambu Kalvai Street?

The Sub Registrar Office that covers Chunnambu Kalvai 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 an essential factor 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 registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, reflecting the established values set by the Registration Department's guideline value register.

Frequently asked questions

What is the current guideline value of Chunnambu Kalvai Street?

The current guideline value of Chunnambu Kalvai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 439% over the years.

What is the land classification for Chunnambu Kalvai Street?

Chunnambu Kalvai Street is classified as Residential Class V Type - III.

What is the median guideline value in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which means Chunnambu Kalvai Street's 2024 figure is below this median.

Where can I find the Mylapore Sub Registrar Office?

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