Guideline Value for KABALEESWARAR EAST MADA STREET

Kabaleeswarar East Mada Street guideline value

The current guideline value of Kabaleeswarar East Mada Street is Rs 13,200 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 II Type - I.

How the guideline value of Kabaleeswarar East Mada Street has changed

The guideline value for Kabaleeswarar East Mada Street has seen several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 12,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 in this area is Rs 8,800 per sq.ft, placing Kabaleeswarar East Mada Street's 2024 figure above that median.

• Kabaleeswarar East Kulam Street: Rs 8,800 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)
• Kabalee Vanabojana Thottam: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar East Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty charged at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, leading to a total of Rs 11,88,000 for these fees. Please 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 more details.

Which Sub Registrar Office covers Kabaleeswarar East Mada Street?

The Kabaleeswarar East Mada Street falls under the jurisdiction of 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 further assistance.

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, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. This value is regularly updated to reflect changes in the real estate market, and it is advisable to check the latest figures before proceeding with any property dealings.

Frequently asked questions

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

The current guideline value of Kabaleeswarar East Mada Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then increased to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. This is based on the current guideline value.

Which Sub Registrar Office covers this street?

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

What is the land classification of Kabaleeswarar East Mada Street?

Kabaleeswarar East Mada Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.