Guideline Value for MAYANDI COLONY 4TH STREET

Mayandi Colony 4th Street guideline value

The current guideline value of Mayandi Colony 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Mayandi Colony 4th Street has changed

Over the years, the guideline value of Mayandi Colony 4th Street has undergone several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 612 per sq.ft. This increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value saw further increases, reaching Rs 900 per sq.ft in 2007, which was a significant rise of 32%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 233%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, rising to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available in the register for the years not mentioned in this summary. The overall change from 2002 to 2024 reflects an increase of 439% in the guideline value of Mayandi Colony 4th Street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Mayandi Colony 4th Street is below this median.

• Mayandi Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Mayandi Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Mayor Ramanathan Street: Rs 8,800 per sq.ft (2024)
• Mavadi Vinayagar Koil Street: Rs 7,100 per sq.ft (2024)
• Mathala Narayanan Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mayandi Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Mayandi Colony 4th Street?

The Sub Registrar Office that covers Mayandi Colony 4th 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 during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the registration process requires the payment of stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mayandi Colony 4th Street?

The current guideline value of Mayandi Colony 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 439% over this period.

What is the land classification of Mayandi Colony 4th Street?

Mayandi Colony 4th Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Mayandi Colony 4th Street?

The Mylapore Sub Registrar Office handles registrations for Mayandi Colony 4th Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.