Guideline Value for KANAGARAYAN MALAIAPPAN STREET

Kanagarayan Malaiappan Street guideline value

The current guideline value of Kanagarayan Malaiappan Street is Rs 8,200 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 IV Type - I.

How the guideline value of Kanagarayan Malaiappan Street has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking a 11% rise. The value continued to rise to Rs 1,540 per sq.ft in 2007, reflecting a 44% increase. The next revision in 2012 maintained the value at Rs 7,500 per sq.ft, and this figure remained unchanged until the 2023 revision.

The 2023 revision set the guideline value at Rs 7,500 per sq.ft, which then increased by 9% to Rs 8,200 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 755%. It is important to note that there is no figure for the year 2017 in the register for this street.

Guideline values in Mylapore

Mylapore village has a total of 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 for these streets is Rs 8,800 per sq.ft, placing Kanagarayan Malaiappan Street's 2024 figure below that median.

• Kanagarayan Malappan Lane: Rs 8,200 per sq.ft (2024)
• Kanakaraya Malayappan Street: Rs 8,200 per sq.ft (2024)
• Kandappan Street: Rs 4,900 per sq.ft (2024)
• Kandasamy Lane: Rs 7,100 per sq.ft (2024)
• Kandasamy St (Ra Puram): Rs 8,800 per sq.ft (2024)
• Kandasamy Street (Dr.Radhakrishnan Salai): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagarayan Malaiappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kanagarayan Malaiappan Street?

The Sub Registrar Office that covers Kanagarayan Malaiappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and transparently.

When buying or selling property, the guideline value is essential for calculating stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanagarayan Malaiappan Street?

The current guideline value of Kanagarayan Malaiappan Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly from Rs 959 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 755%.

What is the stamp duty rate for property in Kanagarayan Malaiappan Street?

The stamp duty rate for property transactions in Kanagarayan Malaiappan Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kanagarayan Malaiappan Street?

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

What are the registration fees for property transactions?

The registration fee for property transactions in Kanagarayan Malaiappan Street is 2% of the guideline value or sale price, whichever is higher.