Guideline Value for KESAVAPERUMALPURAM CRESCENT AVENUE

Kesavaperumalpuram Crescent Avenue guideline value

The current guideline value of Kesavaperumalpuram Crescent Avenue is Rs 16,500 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 I Type - I.

How the guideline value of Kesavaperumalpuram Crescent Avenue has changed

The guideline value for Kesavaperumalpuram Crescent Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,667 per sq.ft. This increased to Rs 1,852 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 2,365 per sq.ft, reflecting a 28% increase from the previous revision. The value then saw a substantial jump to Rs 15,000 per sq.ft in 2012, a remarkable 534% increase. However, it dropped back to Rs 10,050 per sq.ft in 2017, a decrease of 33% from the 2012 figure.

In 2023, the guideline value rose to Rs 15,000 per sq.ft, and the latest revision in 2024 has set it at Rs 16,500 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

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 value of Rs 8,800 per sq.ft. The guideline value of Kesavaperumalpuram Crescent Avenue is above this median.

• Kesavaperumalpuram Central Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumalpuram East Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumalpuram North Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumal Koil Sannadi West Street: Rs 8,800 per sq.ft (2024)
• Kesavaperumalpuram Park Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumal Koil Sannadi Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavaperumalpuram Crescent Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would amount to Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total to Rs 14,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kesavaperumalpuram Crescent Avenue?

The Sub Registrar Office covering Kesavaperumalpuram Crescent Avenue 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kesavaperumalpuram Crescent Avenue?

The current guideline value of Kesavaperumalpuram Crescent Avenue is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,667 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, marking an overall increase of 890% over this period.

What are the stamp duty and registration fees for property in Kesavaperumalpuram Crescent Avenue?

For a property valued at Rs 1,65,00,000, the stamp duty would be Rs 11,55,000 and the registration fee would be Rs 3,30,000, totaling Rs 14,85,000.

Which Sub Registrar Office covers Kesavaperumalpuram Crescent Avenue?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is based on either the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.