Guideline Value for KANNIAHLAL RADHA STREET

Kanniahlal Radha Street guideline value

The current guideline value of Kanniahlal Radha Street 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 Radha Street has changed

The guideline value for Kanniahlal Radha Street 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 a change of +11%. The value then rose to Rs 900 per sq.ft in 2007, reflecting a significant increase of +16%. The 2012 revision saw the value remain at Rs 3,000 per sq.ft, and in 2017, it increased to Rs 2,010 per sq.ft, showing a decrease of -33% from the previous figure. By 2023, the value was Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, which is an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +372%. The register has no figures for the years that are not listed above.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value of these streets is Rs 8,800 per sq.ft, indicating that the 2024 figure for Kanniahlal Radha Street is below this median.

• Kanniahlal Lane: 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 Radha Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanniahlal Radha Street?

The Sub Registrar Office that covers Kanniahlal Radha 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 further assistance.

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

The guideline value is crucial during property transactions in Mylapore as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will affect the stamp duty and registration fees applicable during the sale.

When a property is sold, the guideline value serves as a reference point to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures that the government receives appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Kanniahlal Radha Street?

The current guideline value of Kanniahlal Radha Street 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 increased 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 registration office for Kanniahlal Radha Street?

The registration office for Kanniahlal Radha Street 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 higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with similar guideline values include Kanniahlal Lane and Kannikoil Medu, both at Rs 3,300 per sq.ft in 2024.