Guideline Value for MUNDAKKANNI AMMAN KOIL 1ST LANE

Mundakkanni Amman Koil 1st Lane guideline value

The current guideline value of Mundakkanni Amman Koil 1st Lane is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Mundakkanni Amman Koil 1st Lane has changed

The guideline value for Mundakkanni Amman Koil 1st Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,540 per sq.ft, which saw a significant increase to Rs 7,500 per sq.ft in 2012. However, this value decreased to Rs 5,025 per sq.ft in 2017, before rising again to Rs 7,500 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 8,200 per sq.ft, marking a 9% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 432%, showcasing the changes in property valuation over the years.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 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 Mundakkanni Amman Koil 1st Lane's 2024 figure below this median.

• Mundakkanni Amman Koil 2nd Lane: Rs 8,200 per sq.ft (2024)
• Mundakkanni Amman Koil 3rd Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 4th Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 5th Lane: Rs 8,200 per sq.ft (2024)
• Mundakkanni Amman Koil Street: Rs 12,100 per sq.ft (2024)
• Munusamy Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mundakkanni Amman Koil 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 8,200 per sq.ft, the guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, totaling Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mundakkanni Amman Koil 1st Lane?

The Mylapore Sub Registrar Office covers Mundakkanni Amman Koil 1st Lane, 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Mundakkanni Amman Koil 1st Lane?

The current guideline value of Mundakkanni Amman Koil 1st Lane is Rs 8,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,540 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 432% over the years.

What is the land classification for Mundakkanni Amman Koil 1st Lane?

The land classification for Mundakkanni Amman Koil 1st Lane is Residential Class IV Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 7,38,000.

Where can I find the Sub Registrar Office for this area?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find more details by visiting the official website.