Guideline Value for KANNIAHLAL LANE

Kanniahlal Lane guideline value

The current guideline value of Kanniahlal Lane is Rs 3,300 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 V Type - III.

How the guideline value of Kanniahlal Lane has changed

The guideline value for Kanniahlal Lane has seen several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, a jump of 16%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 233%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it is set at Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 372%. There are no figures available for any other years in the register for this street.

Guideline values in Mylapore

In Mylapore village, 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, with a median value of Rs 8,800 per sq.ft. The guideline value of Kanniahlal Lane is below this median.

• Kanniahlal Radha Street: Rs 3,300 per sq.ft (2024)
• Kannikoil Hut Area: Rs 4,900 per sq.ft (2024)
• Kannikoil Medu: Rs 3,300 per sq.ft (2024)
• Kannikoil Pallam: Rs 3,300 per sq.ft (2024)
• Kannilal Street: Rs 4,900 per sq.ft (2024)
• Karaneeswarar Koil 1st Lane: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanniahlal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniahlal Lane?

The Sub Registrar Office that covers Kanniahlal 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 an essential factor during the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are calculated based on the established guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kanniahlal Lane?

The current guideline value of Kanniahlal Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 372% over this period.

What is the land classification of Kanniahlal Lane?

Kanniahlal Lane is classified as Residential Class V Type - III.

What is the registration office for Kanniahlal Lane?

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

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,31,000 at 7%.