Guideline Value for KUTCHERY ROAD

Kutchery Road guideline value

The current guideline value of Kutchery Road is Rs 22,000 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - II.

How the guideline value of Kutchery Road has changed

The guideline value for Kutchery Road has undergone several revisions since 2012. In the 2012 revision, the value was set at Rs 20,000 per sq.ft. This figure then decreased to Rs 13,400 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rose significantly in the subsequent revisions, reaching Rs 20,000 per sq.ft in 2023, and then increasing by 10% to Rs 22,000 per sq.ft in the 2024 revision.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 revision saw a rise of 10% from the previous year, while the 2017 to 2023 period experienced a substantial increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kutchery Road's 2024 figure above this median.

• Kutchery Lane: Rs 8,800 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 22,000 per sq.ft, the total guideline value would be Rs 2,20,00,000. The stamp duty at 7% would amount to Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, bringing the total fees to Rs 19,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutchery Road?

Kutchery Road 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 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 serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the parties involved must ensure that the sale price is equal to or higher than the guideline value. This ensures compliance with local regulations, and the fees are calculated based on this value to facilitate the transaction.

Frequently asked questions

What is the current guideline value of Kutchery Road?

The current guideline value of Kutchery Road is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20,000 per sq.ft in 2012 to Rs 13,400 per sq.ft in 2017, then increased to Rs 20,000 per sq.ft in 2023, and finally to Rs 22,000 per sq.ft in 2024.

What is the land classification for Kutchery Road?

Kutchery Road is classified as Residential Special Type - II under the local regulations.

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.

How is the stamp duty calculated for properties in Kutchery Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 22,000 per sq.ft, the stamp duty would be calculated accordingly to ensure compliance with registration fees.