Guideline Value for KANDASAMY STREET (MYLAPORE)

Kandasamy Street (Mylapore) guideline value

The current guideline value of Kandasamy Street (Mylapore) 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 Kandasamy Street (Mylapore) has changed

The guideline value for Kandasamy Street has seen several revisions over the years. In 2002, the value was Rs 882 per sq.ft, which increased to Rs 980 per sq.ft in 2003, marking an increase of 11%. The value then rose slightly to Rs 1,000 per sq.ft in 2007, a change of 2%. A significant jump occurred in 2012 when the value reached Rs 7,500 per sq.ft, representing a 650% increase. This figure remained unchanged until 2023.

In 2023, the guideline value was Rs 7,500 per sq.ft, and it increased to Rs 8,200 per sq.ft in 2024, reflecting a 9% rise. There is no figure available for the year 2017 in the register for this street.

Guideline values in Mylapore

Kandasamy Street (Mylapore) is one of 883 streets in Mylapore under the Mylapore SRO that carries a 2024 guideline value. The values for these streets range from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Kandasamy Street's 2024 figure is below this median.

• Kandasamy Street (Dr.Radhakrishnan Salai): Rs 13,200 per sq.ft (2024)
• Kandasamy St (Ra Puram): Rs 8,800 per sq.ft (2024)
• Kandasamy Lane: Rs 7,100 per sq.ft (2024)
• Kangaiamman Koil Lane: Rs 8,200 per sq.ft (2024)
• Kangaiamman Koil Street: Rs 8,200 per sq.ft (2024)
• Kangaiya Puram: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasamy Street (Mylapore)

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 fees 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.

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

Which Sub Registrar Office covers Kandasamy Street (Mylapore)?

Kandasamy Street (Mylapore) falls under the jurisdiction of 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 further assistance.

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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kandasamy Street (Mylapore)?

The current guideline value of Kandasamy Street (Mylapore) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kandasamy Street has increased from Rs 882 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 830% over the years.

Which Sub Registrar Office covers Kandasamy Street (Mylapore)?

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

What is the stamp duty for property in Kandasamy Street (Mylapore)?

The stamp duty for property in Kandasamy Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 5,74,000.

Where can I find more information about registration fees?

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