Guideline Value for KANGAIAMMAN KOIL STREET

Kangaiamman Koil Street guideline value

The current guideline value of Kangaiamman Koil 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 Kangaiamman Koil Street has changed

Over the years, the guideline value of Kangaiamman Koil Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 1,223 per sq.ft, which increased to Rs 1,359 per sq.ft in 2003, marking an 11% rise. In 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 13% increase from the previous revision. The 2012 revision maintained the value at Rs 7,500 per sq.ft, and this figure remained unchanged until the 2023 revision, which also recorded Rs 7,500 per sq.ft. The 2024 revision saw a notable increase to Rs 8,200 per sq.ft, which is a 9% rise from 2023.

It is important to note that there is no guideline value figure for Kangaiamman Koil Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 570%, showcasing a substantial change over the years.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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 Street's 2024 guideline value below this median.

• Kangaiamman Koil Lane: 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 Street

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

Which Sub Registrar Office covers Kangaiamman Koil Street?

The Sub Registrar Office that covers Kangaiamman Koil 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate fees are calculated based on the higher amount, safeguarding the interests of the government in property transactions.

Frequently asked questions

What is the current guideline value of Kangaiamman Koil Street?

The current guideline value of Kangaiamman Koil 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 changed significantly, from Rs 1,223 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, indicating a total increase of 570% over this period.

What is the stamp duty for properties on Kangaiamman Koil Street?

The stamp duty for properties on Kangaiamman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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

Are there any revisions without a guideline value for Kangaiamman Koil Street?

Yes, there is no guideline value figure for Kangaiamman Koil Street in the 2017 revision.