Guideline Value for KANGAIYA PURAM

Kangaiya Puram guideline value

The current guideline value of Kangaiya Puram is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kangaiya Puram has changed

The guideline value for Kangaiya Puram has seen several revisions over the years. In 2002, the guideline value was Rs 560 per sq.ft, which increased to Rs 622 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, reflecting a change of 148%. Following this, the value remained unchanged at Rs 7,500 per sq.ft from 2012 until the 2023 revision. The 2012 to 2023 period saw no change in the guideline value.

In 2023, the guideline value was revised to Rs 7,500 per sq.ft, which then increased to Rs 8,200 per sq.ft in 2024, representing a change of 9%. Overall, from 2002 to 2024, the guideline value has increased by 1,364%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with 2024 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 Kangaiya Puram's 2024 figure below this median.

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

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 to Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kangaiya Puram?

The Sub Registrar Office covering Kangaiya Puram 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 further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Mylapore. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is officially recorded and taxed appropriately.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kangaiya Puram?

The current guideline value of Kangaiya Puram 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 undergone several revisions, increasing from Rs 560 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, which is an overall increase of 1,364%.

What is the stamp duty for properties in Kangaiya Puram?

The stamp duty for properties in Kangaiya Puram is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kangaiya Puram located?

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

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have varying guideline values, with rates ranging from Rs 3,300 to Rs 25,800 per sq.ft. For example, Kandasamy Street (Dr.Radhakrishnan Salai) is valued at Rs 13,200 per sq.ft in 2024.