Guideline Value for KANAKARAYA MALAYAPPAN STREET

Kanakaraya Malayappan Street guideline value

The current guideline value of Kanakaraya Malayappan Street 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 Kanakaraya Malayappan Street has changed

The guideline value for Kanakaraya Malayappan Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,200 per sq.ft, which is an increase of 9% from the 2023 revision of Rs 7,500 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 7,500 per sq.ft from 2012 to 2023.

There are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

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. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kanakaraya Malayappan Street's 2024 figure below that median.

• Kanagarayan Malappan Lane: Rs 8,200 per sq.ft (2024)
• Kanagarayan Malaiappan 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 Kanakaraya Malayappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value comes 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 the 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 detailed calculations.

Which Sub Registrar Office covers Kanakaraya Malayappan Street?

The Sub Registrar Office that covers Kanakaraya Malayappan 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 property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kanakaraya Malayappan Street?

The current guideline value of Kanakaraya Malayappan Street 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 increased from Rs 7,500 per sq.ft in 2023 to Rs 8,200 per sq.ft in 2024, marking a 9% increase. The value remained unchanged from 2012 to 2023.

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

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000, and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which office handles property registration for Kanakaraya Malayappan Street?

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

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.