Guideline Value for KABALEESWARAR EAST KULAM STREET

Kabaleeswarar East Kulam Street guideline value

The current guideline value of Kabaleeswarar East Kulam 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 Kabaleeswarar East Kulam Street has changed

The guideline value for Kabaleeswarar East Kulam Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 8,000 per sq.ft. This was followed by a decrease to Rs 5,360 per sq.ft in 2017. The value then increased significantly to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is the same as the current guideline value for Kabaleeswarar East Kulam Street.

• Kabaleeswarar East Mada Street: Rs 13,200 per sq.ft (2024)
• Justice Sundaram Salai: Rs 9,300 per sq.ft (2024)
• Kabaleeswarar North Mada Street: Rs 11,500 per sq.ft (2024)
• Kabaleeswarar Sannathi Street: Rs 15,400 per sq.ft (2024)
• Kabaleeswarar South Mada Street: Rs 14,300 per sq.ft (2024)
• Judge Jumbulingam Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar East Kulam 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 is charged at 7%, which would be Rs 6,16,000, and the registration fee is at 2%, amounting to Rs 1,76,000. Together, the total fees would be Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kabaleeswarar East Kulam Street?

The Sub Registrar Office that covers Kabaleeswarar East Kulam 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 in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives a fair amount based on the established value of the property.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Kabaleeswarar East Kulam Street?

The current guideline value of Kabaleeswarar East Kulam 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 from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as of 2024.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, which is the same as the current guideline value for Kabaleeswarar East Kulam Street.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in Kabaleeswarar East Kulam Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kabaleeswarar East Kulam Street located?

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