Guideline Value for MEKKAPURAM 3RD CROSS STREET

Mekkapuram 3rd Cross Street guideline value

The current guideline value of Mekkapuram 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, which falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Mekkapuram 3rd Cross Street has changed

The guideline value for Mekkapuram 3rd Cross Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking a 11% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 32% increase. By 2012, the value was Rs 3,000 per sq.ft, representing a substantial 233% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year. There are no figures available for this street in any other years.

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, placing Mekkapuram 3rd Cross Street's current value below this median.

• Mekkapuram 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram Street: Rs 3,300 per sq.ft (2024)
• Meenambal Puram: Rs 3,300 per sq.ft (2024)
• Mayor Ramanathan Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mekkapuram 3rd Cross 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mekkapuram 3rd Cross Street?

The Sub Registrar Office that covers Mekkapuram 3rd Cross 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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding these values can help in planning and budgeting for the expenses involved in buying or selling property in Mylapore.

Frequently asked questions

What is the current guideline value of Mekkapuram 3rd Cross Street?

The current guideline value of Mekkapuram 3rd Cross 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 the years.

What is the registration fee for property in Mekkapuram 3rd Cross Street?

The registration fee for property is 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where is the Sub Registrar Office for Mekkapuram 3rd Cross Street located?

The Sub Registrar Office for Mekkapuram 3rd Cross Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is higher than the current value of Mekkapuram 3rd Cross Street.