Guideline Value for KARNEESWARAR KOIL PAKKODA STREET

Karneeswarar Koil Pakkoda Street guideline value

The current guideline value of Karneeswarar Koil Pakkoda Street 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 Karneeswarar Koil Pakkoda Street has changed

The guideline value for Karneeswarar Koil Pakkoda Street has undergone several revisions over the years. The 2012 revision set the value at Rs 8,500 per sq.ft, which was then reduced to Rs 5,695 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 8,500 per sq.ft in the 2023 revision, and finally reached Rs 9,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 9% in the guideline value.

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 in this area is Rs 8,800 per sq.ft, placing Karneeswarar Koil Pakkoda Street's 2024 figure above that median.

• Karneeswarar Koil Street: Rs 11,500 per sq.ft (2024)
• Karpagam Avenue: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 1st Street: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 2nd Street: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 3rd Street: Rs 16,500 per sq.ft (2024)
• Karpagam Avenue 4th Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karneeswarar Koil Pakkoda Street

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

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Karneeswarar Koil Pakkoda Street?

The Sub Registrar Office that covers Karneeswarar Koil Pakkoda Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms and to avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Karneeswarar Koil Pakkoda Street?

The current guideline value of Karneeswarar Koil Pakkoda Street 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 changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,300 per sq.ft in 2024.

What is the land classification for Karneeswarar Koil Pakkoda Street?

The land classification for Karneeswarar Koil Pakkoda Street is Residential Class III Type - II.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Karneeswarar Koil Pakkoda Street, 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 property valued at Rs 93,00,000, the stamp duty at 7% would be Rs 6,51,000.