Guideline Value for KARANEESWARAR KOIL 1ST LANE

Karaneeswarar Koil 1st Lane guideline value

The current guideline value of Karaneeswarar Koil 1st Lane is Rs 9,300 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 III Type - II.

How the guideline value of Karaneeswarar Koil 1st Lane has changed

The guideline value for Karaneeswarar Koil 1st Lane has experienced several revisions over the years. Starting from the 2007 revision, the value was Rs 1,540 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 8,500 per sq.ft, marking a change of 452%. The value remained unchanged at Rs 8,500 per sq.ft in the 2023 revision. However, in the 2024 revision, it increased to Rs 9,300 per sq.ft, reflecting a 9% rise from the previous year.

It is important to note that there are no guideline value figures available for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 504%.

Guideline values in Mylapore

In Mylapore, 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. The median guideline value in this area is Rs 8,800 per sq.ft, placing the 2024 figure for Karaneeswarar Koil 1st Lane above that median.

• Karaneewarar Koil 2nd Lane: Rs 9,300 per sq.ft (2024)
• Karaneewarar Koil 3rd Lane: Rs 9,300 per sq.ft (2024)
• Kannilal Street: Rs 4,900 per sq.ft (2024)
• Kannikoil Pallam: Rs 3,300 per sq.ft (2024)
• Kannikoil Medu: Rs 3,300 per sq.ft (2024)
• Kannikoil Hut Area: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Karaneeswarar Koil 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, making the total cost for these fees Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Karaneeswarar Koil 1st Lane?

The Sub Registrar Office that covers Karaneeswarar Koil 1st 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 details.

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

The guideline value is a crucial factor when buying or selling property in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When registering a property, the guideline value is used to assess the applicable fees, ensuring that the transaction adheres to local regulations. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Karaneeswarar Koil 1st Lane?

The current guideline value of Karaneeswarar Koil 1st Lane is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,540 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 504%. The most recent change was a 9% rise from Rs 8,500 per sq.ft in 2023.

What is the classification of land for Karaneeswarar Koil 1st Lane?

Karaneeswarar Koil 1st Lane is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Karaneeswarar Koil 1st Lane?

The Sub Registrar Office for Karaneeswarar Koil 1st Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the 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, a property valued at Rs 93,00,000 would incur a stamp duty of Rs 6,51,000 at a rate of 7%.