Guideline Value for KALLUKKARAN STREET

Kallukkaran Street guideline value

The current guideline value of Kallukkaran Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class IV Type - III.

How the guideline value of Kallukkaran Street has changed

The guideline value for Kallukkaran Street has seen significant changes over the years. In 2002, the value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003, reflecting a change of +11%. By 2007, the value surged to Rs 1,540 per sq.ft, marking a substantial increase of +77% from the previous revision. The 2012 revision saw the value rise dramatically to Rs 6,500 per sq.ft, an increase of +322% from 2007.

In the latest revision of 2024, the guideline value reached Rs 7,100 per sq.ft, which is a +9% increase from the 2012 figure. It is important to note that there are no figures available for the years 2017 and 2023 for Kallukkaran Street in the register.

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 value of Rs 8,800 per sq.ft. Kallukkaran Street's current guideline value is below this median.

• Kalvaikarai Salai: Rs 8,200 per sq.ft (2024)
• KALVAIKARAI SALAI (Nadukuppam South Side): Rs 3,300 per sq.ft (2024)
• Kalvivaru Street: Rs 14,300 per sq.ft (2024)
• Kalingarayan Street: Rs 4,900 per sq.ft (2024)
• Kamarajar Salai: Rs 15,900 per sq.ft (2024)
• Kakanji Nagar: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kallukkaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kallukkaran Street?

Kallukkaran Street falls under 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees payable during the transaction, ensuring that these costs are calculated based on an official value set by the government.

When a property is registered, the guideline value is considered to ensure compliance with legal requirements. Buyers and sellers must be aware of this value, as it directly impacts the total cost involved in the property transaction.

Frequently asked questions

What is the current guideline value of Kallukkaran Street?

The current guideline value of Kallukkaran Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 783 per sq.ft to Rs 7,100 per sq.ft in 2024, which is an overall increase of +807%.

What are the stamp duty and registration fees for a property on Kallukkaran Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 71,00,000, leading to stamp duty of Rs 4,97,000 and a registration fee of Rs 1,42,000, totaling Rs 6,39,000.

Which office handles the registration for Kallukkaran Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the costs are calculated based on an official value set by the government, which is crucial for compliance with legal requirements.