Guideline Value for KAILASAPURAM 5TH STREET(Ranganathan Street)

KAILASAPURAM 5TH STREET(Ranganathan Street) guideline value

The current guideline value for KAILASAPURAM 5TH STREET (Ranganathan 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 it falls under the Residential Class V Type - III land classification.

How the guideline value of KAILASAPURAM 5TH STREET(Ranganathan Street) has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for KAILASAPURAM 5TH STREET. Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10% in the guideline value.

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, with a median value of Rs 8,800 per sq.ft. The guideline value for KAILASAPURAM 5TH STREET is below this median.

• Kailasapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kailasapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Kailasapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Kailasapuram 1st 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 5TH STREET(Ranganathan Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Stamp 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 more details.

Which Sub Registrar Office covers KAILASAPURAM 5TH STREET(Ranganathan Street)?

The Sub Registrar Office that covers KAILASAPURAM 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 plays a crucial role in the property registration process in Mylapore. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government, thus providing a standard for taxation purposes.

Frequently asked questions

What is the current guideline value for KAILASAPURAM 5TH STREET?

The current guideline value for KAILASAPURAM 5TH STREET (Ranganathan 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 remained at Rs 3,000 per sq.ft from 2012 to 2023, and it increased to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a total increase of 10%.

What is the land classification for KAILASAPURAM 5TH STREET?

KAILASAPURAM 5TH STREET falls under the Residential Class V Type - III land classification as per the guidelines.

Where can I find the Mylapore Sub Registrar Office?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of that amount.