Guideline Value for KABALI NAGAR 3RD STREET

Kabali Nagar 3rd Street guideline value

The current guideline value of Kabali Nagar 3rd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class V Type - II.

How the guideline value of Kabali Nagar 3rd Street has changed

The guideline value for Kabali Nagar 3rd Street has undergone several revisions over the years. Starting from Rs 612 per sq.ft in 2002, it increased to Rs 680 per sq.ft in 2003, marking an 11% rise. The value then saw a further increase of 32% to Rs 900 per sq.ft in 2007. Following this, the value surged dramatically by 400% to reach Rs 4,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased by 33% to Rs 3,015 per sq.ft. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, reflecting a significant increase of 63% from the 2017 figure.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 701%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, 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 Kabali Nagar 3rd Street's 2024 figure below that median.

• Kabali Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Kabalee Vanabojana Thottam: Rs 6,000 per sq.ft (2024)
• Kabaleeswarar South Mada Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kabali Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kabali Nagar 3rd Street?

The Sub Registrar Office that covers Kabali Nagar 3rd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall expenses involved in the transaction. Buyers should ensure that they understand how this value is determined and how it may affect their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kabali Nagar 3rd Street?

The current guideline value of Kabali Nagar 3rd Street is Rs 4,900 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 612 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 701% over this period.

What are the registration fees for property in Kabali Nagar 3rd Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Kabali Nagar 3rd Street?

The Mylapore Sub Registrar Office handles registrations for Kabali Nagar 3rd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Kabali Nagar 3rd Street?

The land classification for Kabali Nagar 3rd Street is Residential Class V Type - II.