Guideline Value for KUTTI KIRAMANI 1ST STREET

Kutti Kiramani 1st Street guideline value

The current guideline value of Kutti Kiramani 1st Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and falls under the Residential Class III Type - III land classification.

How the guideline value of Kutti Kiramani 1st Street has changed

The guideline value for Kutti Kiramani 1st Street has undergone several revisions over the years. In 2002, the value was Rs 924 per sq.ft, which increased to Rs 1,027 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 8,000 per sq.ft in 2012, which was a 679% change from the 2003 figure. However, this was followed by a decrease to Rs 5,360 per sq.ft in 2017, reflecting a 33% drop from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 852%. The register has no figures for the years 2007 and 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are a total of 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 guideline value is Rs 8,800 per sq.ft, which is equal to the current value for Kutti Kiramani 1st Street.

• Kutti Kiramani 2nd Street: Rs 8,800 per sq.ft (2024)
• Kutti Kiramani Street: Rs 8,800 per sq.ft (2024)
• Kutchery Road: Rs 22,000 per sq.ft (2024)
• Kutchery Lane: 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 Kutti Kiramani 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kutti Kiramani 1st Street?

The Sub Registrar Office that covers Kutti Kiramani 1st Street 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 details.

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

The guideline value is a critical component in property transactions, as it serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees based on the higher of the guideline value or the sale price. This ensures that the correct amount is paid for the registration of the property, safeguarding the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Kutti Kiramani 1st Street?

The current guideline value of Kutti Kiramani 1st Street 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 significantly, from Rs 924 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, which is an overall increase of 852% over the years.

What is the land classification of Kutti Kiramani 1st Street?

Kutti Kiramani 1st Street is classified under Residential Class III Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kutti Kiramani 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.