Guideline Value for KANDAPPAN STREET

Kandappan Street guideline value

The current guideline value of Kandappan Street is Rs 4,900 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 V Type - II.

How the guideline value of Kandappan Street has changed

The guideline value for Kandappan Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 699 per sq.ft. This increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value then saw a significant rise to Rs 1,200 per sq.ft in 2007, which was a 54% increase. The 2012 revision maintained the value at Rs 4,500 per sq.ft, showing no change from the previous revision. In 2023, the value remained at Rs 4,500 per sq.ft, and the 2024 revision raised it to Rs 4,900 per sq.ft, reflecting a 9% increase.

It is important to note that the register has no figure for Kandappan Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 601%.

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. The median value for these streets is Rs 8,800 per sq.ft, which means Kandappan Street's 2024 figure is below that median.

• 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)
• Kandasamy Street (Mylapore): Rs 8,200 per sq.ft (2024)
• Kangaiamman Koil Lane: Rs 8,200 per sq.ft (2024)
• Kangaiamman Koil Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kandappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, resulting in a total cost of Rs 4,41,000. It is important to note that the 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 Kandappan Street?

The Sub Registrar Office that covers Kandappan 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 is a crucial factor during the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with registration requirements. The higher of the guideline value and the actual sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Kandappan Street?

The current guideline value of Kandappan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, with significant increases observed in 2007 and 2012.

What is the land classification of Kandappan Street?

Kandappan Street is classified as Residential Class V Type - II under the Mylapore SRO.

What are the stamp duty and registration fees for properties on Kandappan Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Kandappan Street located?

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