Guideline Value for KABALI NAGAR 4TH STREET

Kabali Nagar 4th Street guideline value

The current guideline value of Kabali Nagar 4th Street is Rs 4,900 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 V Type - II.

How the guideline value of Kabali Nagar 4th Street has changed

The guideline value for Kabali Nagar 4th Street has seen 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 increase of 11%. The value further rose to Rs 900 per sq.ft in 2007, reflecting a 32% increase. By 2012, the value reached Rs 4,500 per sq.ft, which was a significant jump of 400%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The latest revision in 2024 has brought the value up to Rs 4,900 per sq.ft, an increase of 63% from the 2017 figure. The register has no figure for this street for the year 2023.

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 guideline value in this area is Rs 8,800 per sq.ft, indicating that Kabali Nagar 4th Street's 2024 figure is below this median.

• Kabali Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Kabali Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Kabalee Vanabojana Thottam: Rs 6,000 per sq.ft (2024)
• Kabali Thottam: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kabali Nagar 4th 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 at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers Kabali Nagar 4th Street?

The Sub Registrar Office that covers Kabali Nagar 4th 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 real estate transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered. When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

Understanding the guideline value helps in ensuring compliance with local regulations during property transactions. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during registration at the Mylapore SRO.

Frequently asked questions

What is the current guideline value of Kabali Nagar 4th Street?

The current guideline value of Kabali Nagar 4th 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 several times, starting from Rs 612 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 701% since 2002.

What is the land classification for Kabali Nagar 4th Street?

Kabali Nagar 4th Street is classified as Residential Class V Type - II under the land classification system.

Where can I find the Sub Registrar Office for Kabali Nagar 4th Street?

The Sub Registrar Office for Kabali Nagar 4th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 and a registration fee of Rs 98,000.