Guideline Value for KANDASAMY LANE

Kandasamy Lane guideline value

The current guideline value of Kandasamy Lane is Rs 7,100 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 - III.

How the guideline value of Kandasamy Lane has changed

The guideline value for Kandasamy Lane has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 7,100 per sq.ft, which is an increase of 9% from the previous year's figure of Rs 6,500 per sq.ft. Prior to that, the value remained unchanged at Rs 6,500 per sq.ft since the 2012 revision.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register 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, indicating that Kandasamy Lane's 2024 figure is below this median.

• 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)
• Kandappan Street: Rs 4,900 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 Kandasamy Lane

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. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandasamy Lane?

Kandasamy Lane 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 more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kandasamy Lane?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024, marking a 9% increase. From 2012 to 2024, the overall increase is also 9%.

What is the land classification for Kandasamy Lane?

Kandasamy Lane is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for Kandasamy Lane?

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

How is stamp duty calculated for properties in Kandasamy Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.