Guideline Value for KAILASAPURAM 3RD STREET

Kailasapuram 3rd Street guideline value

The current guideline value of Kailasapuram 3rd Street is Rs 3,300 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 - III.

How the guideline value of Kailasapuram 3rd Street has changed

The guideline value for Kailasapuram 3rd Street has undergone several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The value continued to increase to Rs 900 per sq.ft in 2007, reflecting a 16% change. A significant jump occurred in 2012 when the value reached Rs 3,000 per sq.ft, an increase of 233% from the previous revision.

However, from 2012 to 2017, the guideline value decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 64% increase from 2017. There is no figure available for the year 2023 in the register for this street.

Guideline values in Mylapore

In Mylapore village, 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, with a median of Rs 8,800 per sq.ft. The guideline value for Kailasapuram 3rd Street is below this median.

• Kailasapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kailasapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kailasapuram 1st Street: Rs 3,300 per sq.ft (2024)
• KAILASAPURAM 5TH STREET(Ranganathan Street): Rs 3,300 per sq.ft (2024)
• Kakanji Nagar: Rs 8,800 per sq.ft (2024)
• Kabali Thottam: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kailasapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 Kailasapuram 3rd Street?

The Sub Registrar Office that covers Kailasapuram 3rd 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 plays a crucial role during the registration of property transactions in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

During a sale or purchase, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Kailasapuram 3rd Street?

The current guideline value of Kailasapuram 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What is the land classification for Kailasapuram 3rd Street?

Kailasapuram 3rd Street is classified as Residential Class V Type - III.

Where can I find the registration office for Kailasapuram 3rd Street?

The registration office for Kailasapuram 3rd 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 Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.