Guideline Value for KATTUKOIL

Kattukoil guideline value

The current guideline value of Kattukoil is Rs 3,300 per sq.ft, effective from 1 July 2024. Kattukoil is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Kattukoil has changed

The guideline value for Kattukoil has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then further rose to the current rate of Rs 3,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a rise of 10%. 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median of Rs 8,800 per sq.ft. Kattukoil's 2024 figure is below this median.

• Kattabomman Street: Rs 3,300 per sq.ft (2024)
• Kasthuri Avenue: Rs 17,600 per sq.ft (2024)
• Kasim Sahib Street: Rs 3,300 per sq.ft (2024)
• Kennady 1st Street: Rs 8,800 per sq.ft (2024)
• Kennedy 2nd Street: Rs 8,800 per sq.ft (2024)
• Kesavaperumal Koil Sannadi South / Arisikkaran Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kattukoil

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, resulting in a total of 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattukoil?

The Kattukoil area falls under 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 when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, which are mandatory for all property transactions. This ensures that the government receives the appropriate revenue from property sales, based on the established values set by the registration department.

Frequently asked questions

What is the current guideline value of Kattukoil?

The current guideline value of Kattukoil 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Kattukoil?

Kattukoil is classified as Residential Class V Type - III.

What is the stamp duty for property in Kattukoil?

The stamp duty for property in Kattukoil is 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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