Guideline Value for KESAVAPERUMALPURAM PARK AVENUE

Kesavaperumalpuram Park Avenue guideline value

The current guideline value of Kesavaperumalpuram Park Avenue is Rs 16,500 per sq.ft, effective from 1 July 2024. This property is located in Mylapore village under the Mylapore SRO, classified as Residential Class I Type - I.

How the guideline value of Kesavaperumalpuram Park Avenue has changed

The guideline value for Kesavaperumalpuram Park Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,652 per sq.ft, which increased to Rs 1,835 per sq.ft in 2003, marking an increase of 11%. The next recorded revision was in 2012, where the value was Rs 15,000 per sq.ft, reflecting a significant increase of 717% from 2003. However, in 2017, the value decreased to Rs 10,050 per sq.ft, a reduction of 33% from the previous revision.

In 2023, the guideline value rose to Rs 15,000 per sq.ft, and in the latest 2024 revision, it increased by 10% to Rs 16,500 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 899%. The register has no figure for this street in 2007.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, making the guideline value of Kesavaperumalpuram Park Avenue above this median.

• Kesavaperumalpuram North Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumal Sannadi East Street: Rs 8,800 per sq.ft (2024)
• Kesavaperumalpuram East Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumalpuram Crescent Avenue: Rs 16,500 per sq.ft (2024)
• Kesavaperumalpuram Central Avenue: Rs 16,500 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 Park 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 cost for these fees to Rs 14,85,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kesavaperumalpuram Park Avenue?

The Kesavaperumalpuram Park Avenue falls under the jurisdiction of 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the stamp duty is calculated based on the higher value between the guideline value and the actual sale price. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kesavaperumalpuram Park Avenue?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,652 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 899% over this period.

What is the stamp duty for property in Kesavaperumalpuram Park Avenue?

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

Where can I find the Mylapore Sub Registrar Office?

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

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with guideline values include Kesavaperumalpuram North Avenue, Kesavaperumalpuram East Avenue, and Kesavaperumalpuram Crescent Avenue, all valued at Rs 16,500 per sq.ft in 2024.