Guideline Value for KABALEESWARAR NORTH MADA STREET

Kabaleeswarar North Mada Street guideline value

The current guideline value of Kabaleeswarar North Mada Street is Rs 11,500 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 - III.

How the guideline value of Kabaleeswarar North Mada Street has changed

The guideline value for Kabaleeswarar North Mada Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,652 per sq.ft, which increased to Rs 1,835 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 2,365 per sq.ft in 2007, a substantial increase of 29%. By 2012, the value was Rs 10,500 per sq.ft, reflecting a remarkable rise of 344% from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 7,035 per sq.ft, a decrease of 33%. However, it rebounded significantly to Rs 10,500 per sq.ft in 2023, showing an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 2024 guideline values 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 North Mada Street's current figure above that median.

• 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)
• Kabali Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total cost for these fees Rs 10,35,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kabaleeswarar North Mada Street?

The Sub Registrar Office that covers Kabaleeswarar North Mada 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 factor in property registration in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions. Buyers and sellers must consider this value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of their financial obligations when transferring property ownership, making the process smoother and more efficient.

Frequently asked questions

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

The current guideline value of Kabaleeswarar North Mada Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,652 in 2002 to Rs 11,500 in 2024, reflecting an overall increase of 596%. There have been significant fluctuations, including a drop from Rs 10,500 in 2012 to Rs 7,035 in 2017 before rising again.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 1,15,00,000, the total fees would amount to Rs 10,35,000.

Where can I find the Sub Registrar Office for this area?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring transparency in property transactions. It also helps in calculating the stamp duty and registration fees applicable during the sale or purchase of a property.