Guideline Value for KANAGARAYAN MALAPPAN LANE

Kanagarayan Malappan Lane guideline value

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

How the guideline value of Kanagarayan Malappan Lane has changed

In the 2012 revision, the guideline value was Rs 7,500 per sq.ft. This figure changed to Rs 5,025 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The value then increased significantly to Rs 7,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 8,200 per sq.ft in the 2024 revision, marking a 9% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The 2023 to 2024 revision shows a change of 9%, while the increase from 2017 to 2023 was 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 8,800 per sq.ft, placing Kanagarayan Malappan Lane's 2024 figure below this median.

• Kanagarayan Malaiappan Street: 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 Malappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty, charged at 7%, would amount to Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000. Together, the total cost for stamp duty and registration fees would be Rs 7,38,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanagarayan Malappan Lane?

The Sub Registrar Office covering Kanagarayan Malappan Lane 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 when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected for property transactions.

Frequently asked questions

What is the current guideline value of Kanagarayan Malappan Lane?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,200 per sq.ft in 2024.

What is the land classification of Kanagarayan Malappan Lane?

Kanagarayan Malappan Lane is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Kanagarayan Malappan Lane?

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