Guideline Value for KARNEESWARAR KOIL STREET

Karneeswarar Koil Street guideline value

The current guideline value of Karneeswarar Koil Street is Rs 11,500 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 II Type - III.

How the guideline value of Karneeswarar Koil Street has changed

The guideline value for Karneeswarar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 10,500 per sq.ft, which then dropped to Rs 7,035 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rebounded significantly to Rs 10,500 per sq.ft in the 2023 revision, and then increased by 10% to the current rate of Rs 11,500 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value is Rs 8,800 per sq.ft, placing Karneeswarar Koil Street above this median with its current value of Rs 11,500 per sq.ft.

• Karneeswarar Koil Pakkoda Street: Rs 9,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, leading to a total of Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable.

Which Sub Registrar Office covers Karneeswarar Koil Street?

The Sub Registrar Office that covers Karneeswarar Koil 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the required fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Karneeswarar Koil Street?

The current guideline value of Karneeswarar Koil Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,500 per sq.ft in 2012 to Rs 7,035 per sq.ft in 2017, then back to Rs 10,500 per sq.ft in 2023, and finally to Rs 11,500 per sq.ft in 2024.

What is the land classification for Karneeswarar Koil Street?

Karneeswarar Koil Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this street?

The Mylapore Sub Registrar Office, which covers Karneeswarar Koil Street, is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 11,500 per sq.ft would have a total guideline value of Rs 1,15,00,000, leading to specific fees based on this amount.