Guideline Value for KUTTI KIRAMANI STREET

Kutti Kiramani Street guideline value

The current guideline value of Kutti Kiramani Street 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 Kutti Kiramani Street has changed

The guideline value for Kutti Kiramani Street has seen significant changes over the years. In 2002, the value was Rs 1,051 per sq.ft, which increased to Rs 1,168 per sq.ft in 2003, marking an increase of 11%. Following this, the value surged to Rs 8,000 per sq.ft in 2012, a remarkable increase of 585%. However, from 2012 to 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, which is a substantial increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2007 and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 737%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current guideline value of Kutti Kiramani Street.

• Kutti Kiramani 2nd Street: Rs 8,800 per sq.ft (2024)
• Kutti Kiramani 1st 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 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. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kutti Kiramani Street?

The Sub Registrar Office that covers Kutti Kiramani 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 plays a crucial role during property registration in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be considered for calculating the applicable duties.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This ensures that all fees are accurately calculated based on the current rates set by the registration department.

Frequently asked questions

What is the current guideline value of Kutti Kiramani Street?

The current guideline value of Kutti Kiramani 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, with an overall increase of 737% from Rs 1,051 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024.

What is the stamp duty for a property in Kutti Kiramani Street?

The stamp duty for a property in Kutti Kiramani Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kutti Kiramani Street located?

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

What is the land classification for Kutti Kiramani Street?

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