Guideline Value for MINI STREET

Mini Street guideline value

The current guideline value of Mini Street in Puliyur village, under the Kodambakkam SRO, is Rs 6,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - III.

How the guideline value of Mini Street has changed

The guideline value for Mini Street has seen several revisions over the years. In 2002, the value was Rs 766 per sq.ft, which increased to Rs 841 per sq.ft in 2003, marking a change of +10%. The value rose significantly to Rs 1,650 per sq.ft in 2007, reflecting a change of +96%. The next revision in 2012 kept the value at Rs 5,800 per sq.ft, with no change from the previous year, and this figure remained the same until 2023.

In 2023, the guideline value was again Rs 5,800 per sq.ft, but it increased to Rs 6,300 per sq.ft in 2024, showing a change of +9%. The register has no figure for this street in 2017. Overall, from 2002 to 2024, the guideline value has increased by +722%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, making Mini Street's 2024 value of Rs 6,300 per sq.ft above this median.

• Minor Trustpuram 1cross St Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram 2nd Cross Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram 3rd Cross Street: Rs 6,300 per sq.ft (2024)
• Minor Trustpuram Main Road: Rs 6,300 per sq.ft (2024)
• M.G.R. Street: Rs 4,400 per sq.ft (2024)
• METTU STREET (or) PALANI ANDAVAR KOIL STREET: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mini Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees to Rs 5,67,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mini Street?

The Sub Registrar Office that covers Mini Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Puliyur. It serves as a reference point for determining the stamp duty and registration fees during the buying or selling process. The authorities use this value to assess the property for taxation purposes.

When you register a property, the guideline value helps ensure that the transaction is documented at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mini Street?

The current guideline value of Mini Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 766 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of +722%.

What is the land classification for Mini Street?

Mini Street is classified as Residential Special Type - III under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties on Mini Street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 63,00,000, leading to a stamp duty of Rs 4,41,000 and a registration fee of Rs 1,26,000, totaling Rs 5,67,000.

Which office handles the registration for Mini Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, handles registrations for Mini Street.