Guideline Value for KUTTI KIRAMANI 2ND STREET

Kutti Kiramani 2nd Street guideline value

The current guideline value of Kutti Kiramani 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Kutti Kiramani 2nd Street has changed

The guideline value for Kutti Kiramani 2nd Street has seen 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 increase of 11%. Following this, the value surged significantly to Rs 8,000 per sq.ft in 2012, reflecting a remarkable increase of 679%. However, it dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, an increase of 64% from the 2017 figure.

There are no figures available for the revisions in 2007 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 852%.

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. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Kutti Kiramani 2nd Street.

• Kutti Kiramani 1st 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 2nd Street

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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutti Kiramani 2nd Street?

The Sub Registrar Office that covers Kutti Kiramani 2nd 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 information.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kutti Kiramani 2nd Street?

The current guideline value of Kutti Kiramani 2nd 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, starting from Rs 924 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 852% over the years.

What is the land classification for Kutti Kiramani 2nd Street?

The land classification for Kutti Kiramani 2nd Street is Residential Class III Type - III.

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

The Sub Registrar Office for Kutti Kiramani 2nd 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. For example, if the guideline value is Rs 88,00,000, the stamp duty would be calculated at 7% of that amount.