Guideline Value for KABALI NAGAR 5TH STREET

Kabali Nagar 5th Street guideline value

The current guideline value of Kabali Nagar 5th Street is Rs 4,900 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 V Type - II.

How the guideline value of Kabali Nagar 5th Street has changed

Looking at the revisions of the guideline value, the most recent figure is from the 2024 revision, which is Rs 4,900 per sq.ft. The previous revision in 2023 was Rs 4,500 per sq.ft, indicating a change of +9%. Before that, the 2012 revision also recorded Rs 4,500 per sq.ft, showing no change from 2012 to 2023. The register has no figures for the years 2017, 2007, 2003, and 2002 for this street.

Overall, from 2012 to 2024, the guideline value has increased by +9%. This steady increase reflects the latest adjustments made in the 2024 revision.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with 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 Kabali Nagar 5th Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Kabali Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to 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 precise calculations.

Which Sub Registrar Office covers Kabali Nagar 5th Street?

The Sub Registrar Office that covers Kabali Nagar 5th 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 crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration authority will use it to calculate applicable duties and fees.

During the registration process, the guideline value serves as a benchmark for assessing the stamp duty and registration fees, ensuring that the transaction is documented according to the prevailing regulations. This ensures transparency and compliance with local laws.

Frequently asked questions

What is the current guideline value of Kabali Nagar 5th Street?

The current guideline value of Kabali Nagar 5th 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 from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024, showing a +9% increase. There was no change from 2012 to 2023, as the value remained at Rs 4,500 per sq.ft.

What is the land classification for Kabali Nagar 5th Street?

Kabali Nagar 5th Street is classified as Residential Class V Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Kabali Nagar 5th Street?

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

How is stamp duty calculated for properties in Kabali Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7% of the guideline value.