Guideline Value for MEKKAPURAM 4TH CROSS STREET

Mekkapuram 4th Cross Street guideline value

The current guideline value of Mekkapuram 4th Cross 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 Mekkapuram 4th Cross Street has changed

The guideline value has undergone several revisions since 2002. Starting with Rs 612 per sq.ft in 2002, it increased to Rs 680 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 32% increase. Following this, in 2012, the value surged to Rs 3,000 per sq.ft, a remarkable 233% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which is a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, representing a 64% rise from the 2017 figure. The register has no figure for this street in 2023.

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 Mekkapuram 4th Cross Street is below this median.

• Mekkapuram 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Mekkapuram 1st Cross 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 4th 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 or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mekkapuram 4th Cross Street?

The Sub Registrar Office that covers Mekkapuram 4th 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 details.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mekkapuram 4th Cross Street?

The current guideline value of Mekkapuram 4th 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 seen several changes, starting from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 439% since 2002.

What is the stamp duty for properties in Mekkapuram 4th Cross Street?

The stamp duty for properties in Mekkapuram 4th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mekkapuram 4th Cross Street located?

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

How is the guideline value determined in Mylapore?

The guideline value in Mylapore is determined by the Registration Department and is based on various factors, including land classification and historical price revisions. It serves as a reference point for property transactions.