Guideline Value for INDIRANI AMMAL STREET

Indirani Ammal Street guideline value

The current guideline value for Indirani Ammal Street is Rs 8,800 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 III Type - III.

How the guideline value of Indirani Ammal Street has changed

The guideline value for Indirani Ammal Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,183 per sq.ft. This increased to Rs 1,314 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, which was a 17% increase. Following this, the 2012 revision saw a substantial jump to Rs 8,000 per sq.ft, reflecting a 419% increase. However, in the 2017 revision, it decreased to Rs 5,360 per sq.ft, indicating a decline of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 644%. There are no figures available for the revisions in years other than those specified.

Guideline values in Mylapore

In Mylapore village, there are 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 value for these streets is Rs 8,800 per sq.ft, which is equal to the 2024 guideline value for Indirani Ammal Street.

• Irudhayapuram (Dooming Kuppam): Rs 3,300 per sq.ft (2024)
• Irusappa Kiramani Street: Rs 8,800 per sq.ft (2024)
• Iyemperumal Street: Rs 8,800 per sq.ft (2024)
• Jagadambal Colony 1st Street: Rs 8,800 per sq.ft (2024)
• Jagadambal Colony 2nd Street: Rs 8,800 per sq.ft (2024)
• Iluppai Thoppu: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Indirani Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, these fees would total Rs 7,92,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indirani Ammal Street?

The Sub Registrar Office that covers Indirani Ammal 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 reference point during property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The higher of the guideline value and the sale price is considered for calculating these fees.

When registering a property, it is essential to be aware of the guideline value as it can significantly impact the total cost incurred during the transaction. Buyers and sellers should ensure they are informed about the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Indirani Ammal Street?

The current guideline value of Indirani Ammal 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 changed significantly, from Rs 1,183 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 644%.

What is the registration office for Indirani Ammal Street?

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

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where can I find more information about guideline values in Mylapore?

More information about guideline values in Mylapore can be found in the guideline value register maintained by the Registration Department, which details the values for various streets in the area.