Guideline Value for Kodambakkam High Road

Kodambakkam High Road guideline value

The current guideline value of Kodambakkam High Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Kodambakkam High Road has changed

The guideline value for Kodambakkam High Road has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 13,000 per sq.ft, and it increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase from 2023 to 2024 reflects a significant adjustment in the guideline value, moving from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft. The latest figure is indicative of the current valuation standards set by the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Kodambakkam High Road's 2024 figure above this median.

• Kavingnar Bharathidhasan Road: Rs 14,300 per sq.ft (2024)
• Krishnaswamy Garden Street: Rs 8,700 per sq.ft (2024)
• Kasthuri Ranga Road: Rs 17,500 per sq.ft (2024)
• Kasthuri Ranga 1st Lane: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate MainRoad: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 3rd Street: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kodambakkam High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, leading to a total of Rs 12,87,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kodambakkam High Road?

The Kodambakkam High Road is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in property transactions in Mylapore Part 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Kodambakkam High Road?

The current guideline value of Kodambakkam High Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kodambakkam High Road has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kodambakkam High Road?

The land classification for Kodambakkam High Road is Residential Special Type - IV. This classification is important for understanding the usage and regulations applicable to the property.

What are the stamp duty and registration fees for properties in Kodambakkam High Road?

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. The duty is charged on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Chennai Central Joint I Sub Registrar Office covers Kodambakkam High Road, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.