Guideline Value for KESAVAPERUMALPURAM EAST AVENUE

Kesavaperumalpuram East Avenue guideline value

The current guideline value of Kesavaperumalpuram East 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 East Avenue has changed

The guideline value for Kesavaperumalpuram East Avenue has seen significant changes over the years. In the 2002 revision, the value was Rs 2,011 per sq.ft, which increased to Rs 2,234 per sq.ft in 2003. Following this, the value rose to Rs 3,537 per sq.ft in 2007, marking a 58% increase from the previous year. The 2012 revision saw a decrease to Rs 15,000 per sq.ft, a drop of 33% from the 2017 revision of Rs 10,050 per sq.ft. The value then increased to Rs 15,000 per sq.ft in 2023, and finally, to Rs 16,500 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 720%. There are no figures available for the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kesavaperumalpuram East Avenue's 2024 figure above this median.

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

Stamp duty and registration fee for property in Kesavaperumalpuram East Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total to Rs 14,85,000. Please 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 Kesavaperumalpuram East Avenue?

The Sub Registrar Office that covers Kesavaperumalpuram East 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 during the registration process of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that both buyers and sellers comply with local regulations.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty, which is a mandatory cost for property registration. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kesavaperumalpuram East Avenue?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 2,011 per sq.ft to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 720%.

What is the land classification for Kesavaperumalpuram East Avenue?

Kesavaperumalpuram East Avenue is classified as Residential Class I Type - I.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,65,00,000 would incur a stamp duty of Rs 11,55,000 at 7%.

Where is the Sub Registrar Office for Kesavaperumalpuram East Avenue located?

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