Guideline Value for KANGAIAMMAN KOIL LANE

Kangaiamman Koil Lane guideline value

The current guideline value of Kangaiamman Koil Lane is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kangaiamman Koil Lane has changed

The guideline value for Kangaiamman Koil Lane has undergone several revisions over the years. Starting from the 2002 revision, the value was set at Rs 1,223 per sq.ft. This figure saw a rise to Rs 1,359 per sq.ft in 2003, which was an increase of 11%. The value then increased by 13% to Rs 1,540 per sq.ft in 2007. Following that, there was a significant jump of 387%, bringing the value to Rs 7,500 per sq.ft in 2012. The 2023 revision maintained this figure at Rs 7,500 per sq.ft, with no change recorded.

In the latest 2024 revision, the guideline value increased by 9% to Rs 8,200 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 570%. It is important to note that there was no figure available for Kangaiamman Koil Lane in the 2017 revision.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values for 2024 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 Kangaiamman Koil Lane's current value below this median.

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

Stamp duty and registration fee for property in Kangaiamman Koil Lane

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, while the registration fee at 2% would be Rs 1,64,000. Together, these fees total Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kangaiamman Koil Lane?

The Sub Registrar Office that covers Kangaiamman Koil 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 in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring transparency in the transaction process.

When you approach the registration office, the guideline value will be referenced to ascertain the fees that need to be paid. This ensures that both buyers and sellers are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Kangaiamman Koil Lane?

The current guideline value of Kangaiamman Koil 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 seen several revisions, with the most recent increase of 9% from Rs 7,500 per sq.ft in 2023 to Rs 8,200 per sq.ft in 2024. Overall, the value has increased by 570% from 2002 to 2024.

What is the land classification of Kangaiamman Koil Lane?

Kangaiamman Koil Lane is classified as Residential Class IV Type - I. This classification is important for determining the usage and regulations applicable to the property.

What are the stamp duty and registration fees for 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Kangaiamman Koil Lane?

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