Guideline Value for KOLAVIZHI AMMAN KOIL 2ND STREET

Kolavizhi Amman Koil 2nd Street guideline value

The current guideline value of Kolavizhi Amman Koil 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Kolavizhi Amman Koil 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase of 49% to reach Rs 3,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a rise of 10% from the previous year.

It is important to note that the register has no figures for the years 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 2024 guideline values 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 Kolavizhi Amman Koil 2nd Street's 2024 figure below that median.

• Kolavizhi Amman Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Kolavizhi Amman Koil 3rd Street: Rs 3,300 per sq.ft (2024)
• Kolavizhi Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Kolikaran Pettai 1st Lane: Rs 3,300 per sq.ft (2024)
• Kolaikaran Pettai 2nd Lane: Rs 3,300 per sq.ft (2024)
• Krishna Avenue: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavizhi Amman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Kolavizhi Amman Koil 2nd Street?

The Kolavizhi Amman Koil 2nd Street is covered by 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 property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This value helps ensure that the transaction is recorded accurately and fairly within the legal framework.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for calculating the costs associated with registration. It is essential to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kolavizhi Amman Koil 2nd Street?

The current guideline value of Kolavizhi Amman Koil 2nd Street 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 significantly over the years, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office should I approach for transactions in this area?

The Mylapore Sub Registrar Office covers Kolavizhi Amman Koil 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is higher than the current guideline value of Kolavizhi Amman Koil 2nd Street.