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 falls under the Mylapore Part 2 village and is classified as Residential Special Type - IV, governed by the Chennai Central Joint I SRO.

How the guideline value of Kodambakkam High Road has changed

The guideline value for Kodambakkam High Road has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 13,000 per sq.ft, which was an increase from the previous years. The most recent revision in 2024 has raised the guideline value to Rs 14,300 per sq.ft, marking a 10% increase from the 2023 figure.

This increase reflects a significant adjustment in the guideline values for properties in this area. The 2024 figure is notably above the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

The guideline values in Mylapore Part 2 range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Kodambakkam High Road's 2024 figure of Rs 14,300 per sq.ft is 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 is calculated at 7%, which totals Rs 10,01,000, while the registration fee at 2% amounts to Rs 2,86,000. The total cost for stamp duty and registration fee together is Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kodambakkam High Road?

The Kodambakkam High Road falls under the jurisdiction of 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 2

The guideline value is an essential factor when registering a property in Mylapore Part 2. It serves as a reference point for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value helps determine the costs associated with the transaction, including the applicable fees. This ensures transparency and consistency in property transactions within the region.

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 recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% rise.

What is the land classification for Kodambakkam High Road?

Kodambakkam High Road is classified as Residential Special Type - IV under the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,43,00,000, the total fees would be Rs 12,87,000.

Which office handles registrations for Kodambakkam High Road?

The Chennai Central Joint I Sub Registrar Office at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, handles registrations for Kodambakkam High Road.