Guideline Value for KABALEESWARAR SOUTH MADA STREET

Kabaleeswarar South Mada Street guideline value

The current guideline value of Kabaleeswarar South Mada Street is Rs 14,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kabaleeswarar South Mada Street has changed

Over the years, the guideline value of Kabaleeswarar South Mada Street has seen significant changes. In the 2002 revision, the value was Rs 1,652 per sq.ft, which increased to Rs 1,835 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose sharply to Rs 2,365 per sq.ft, reflecting a 29% increase from the previous revision. The 2012 revision saw the value remain at Rs 13,000 per sq.ft, and this figure was unchanged until the 2023 revision, which also recorded Rs 13,000 per sq.ft. However, in 2024, the value increased to Rs 14,300 per sq.ft, representing a 10% rise from the previous year.

In summary, the guideline value has increased from Rs 1,652 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, an overall increase of 766%. Notably, there is no figure available for the 2017 revision for Kabaleeswarar South Mada Street.

Guideline values in Mylapore

In Mylapore, 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, placing Kabaleeswarar South Mada Street above this median with its current value of Rs 14,300 per sq.ft.

• Kabaleeswarar Sannathi Street: Rs 15,400 per sq.ft (2024)
• Kabaleeswarar North Mada Street: Rs 11,500 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 South Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty, calculated at 7%, would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000. Therefore, the total cost for stamp duty and registration would be Rs 12,87,000. It is important to note that 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 South Mada Street?

The Sub Registrar Office that covers Kabaleeswarar South 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 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 on which stamp duty and registration fees are calculated. When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with the regulations set by the Registration Department.

During the registration process, the guideline value serves as a benchmark for the transaction price. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value to ensure that the correct fees are paid to the government.

Frequently asked questions

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

The current guideline value of Kabaleeswarar South Mada Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 1,652 per sq.ft to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 766%.

What is the registration fee for properties on this street?

The registration fee for properties on Kabaleeswarar South Mada Street is calculated at 2% of the guideline value or sale price, whichever is higher.

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

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

What is the stamp duty rate applicable in Chennai?

The stamp duty rate applicable in Chennai is 7% of the guideline value or sale price, whichever is higher.