Guideline Value for MUNDAKKANNI AMMAN KOIL 2ND LANE

Mundakkanni Amman Koil 2nd Lane guideline value

The current guideline value of Mundakkanni Amman Koil 2nd Lane is Rs 8,200 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 IV Type - I.

How the guideline value of Mundakkanni Amman Koil 2nd Lane has changed

The guideline value for Mundakkanni Amman Koil 2nd Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 968 per sq.ft. This increased to Rs 1,076 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 1,540 per sq.ft in 2007, which was a 43% change. The next revision in 2012 saw a dramatic jump to Rs 7,500 per sq.ft, an increase of 387%. However, the value decreased to Rs 5,025 per sq.ft in 2017, reflecting a 33% drop. The most recent revision in 2024 brought the guideline value to Rs 8,200 per sq.ft, which is a 63% increase from 2017. Notably, there is no figure available for the year 2023 in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing the 2024 figure for Mundakkanni Amman Koil 2nd Lane below this median.

• Mundakkanni Amman Koil 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total 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, leading to a total of Rs 7,38,000. 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 Mundakkanni Amman Koil 2nd Lane?

The Sub Registrar Office that covers Mundakkanni Amman Koil 2nd Lane 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 during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Mundakkanni Amman Koil 2nd Lane?

The current guideline value of Mundakkanni Amman Koil 2nd Lane is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 968 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, showing an overall increase of 747% over the years.

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

For a property valued at Rs 82,00,000, the stamp duty is Rs 5,74,000 and the registration fee is Rs 1,64,000, totaling Rs 7,38,000.

Which Sub Registrar Office is responsible for Mundakkanni Amman Koil 2nd Lane?

The Mylapore Sub Registrar Office is responsible for Mundakkanni Amman Koil 2nd Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

Where does the guideline value for this street stand compared to others in Mylapore?

The guideline value for Mundakkanni Amman Koil 2nd Lane is Rs 8,200 per sq.ft, which is below the median value of Rs 8,800 per sq.ft for other streets in Mylapore.