Guideline Value for KUTCHERY LANE

Kutchery Lane guideline value

The current guideline value of Kutchery Lane is Rs 8,800 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 III Type - III.

How the guideline value of Kutchery Lane has changed

The guideline value for Kutchery Lane has undergone several revisions over the years. In 2007, the value was Rs 1,540 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 5,360 per sq.ft. The value then rose to Rs 8,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 471%. The register does not contain figures for the years 2002 and 2003 for this street.

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. The median value is Rs 8,800 per sq.ft, making Kutchery Lane's 2024 figure equal to this median.

• Kutchery Road: Rs 22,000 per sq.ft (2024)
• Kutti Kiramani 1st Street: Rs 8,800 per sq.ft (2024)
• Kutti Kiramani 2nd Street: Rs 8,800 per sq.ft (2024)
• Kutti Kiramani Street: Rs 8,800 per sq.ft (2024)
• Kuyil Thottam: Rs 3,300 per sq.ft (2024)
• Lady Desigachari Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kutchery Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 information.

Which Sub Registrar Office covers Kutchery Lane?

Kutchery Lane 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost involved in property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value for Kutchery Lane?

The current guideline value for Kutchery Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,540 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 471% over the years.

What is the stamp duty rate for property in Kutchery Lane?

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

Where is the Sub Registrar Office for Kutchery Lane located?

The Sub Registrar Office covering Kutchery Lane 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 a guideline value of Rs 8,800 per sq.ft include Kutti Kiramani 1st Street, Kutti Kiramani 2nd Street, and Kutti Kiramani Street.