Guideline Value for MUNDAKKANNI AMMAN KOIL 5TH LANE

Mundakkanni Amman Koil 5th Lane guideline value

The current guideline value for Mundakkanni Amman Koil 5th Lane is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Mundakkanni Amman Koil 5th Lane has changed

The guideline value for Mundakkanni Amman Koil 5th Lane has seen significant changes over the years. In 2002, the value was Rs 960 per sq.ft, which increased to Rs 1,067 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, a substantial increase of 44%. Following this, the guideline value surged to Rs 7,500 per sq.ft in 2012, representing a remarkable jump of 387%. However, it then experienced a decrease to Rs 5,025 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 7,500 per sq.ft in 2023, and currently stands at Rs 8,200 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 754%. The register shows no figures for the years between these revisions specifically for this street.

Guideline values in Mylapore

Mylapore village has 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, positioning Mundakkanni Amman Koil 5th Lane below this median.

• Mundakkanni Amman Koil 4th Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil Street: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 3rd Lane: Rs 12,100 per sq.ft (2024)
• Mundakkanni Amman Koil 2nd Lane: Rs 8,200 per sq.ft (2024)
• Mundakkanni Amman Koil 1st Lane: Rs 8,200 per sq.ft (2024)
• Munusamy Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mundakkanni Amman Koil 5th 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, 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mundakkanni Amman Koil 5th Lane?

The Sub Registrar Office that covers Mundakkanni Amman Koil 5th 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 information.

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

The guideline value is a critical factor in the registration process of 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 revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. This value is used to calculate the stamp duty and registration fees, which are essential components of any property transaction.

Frequently asked questions

What is the current guideline value for Mundakkanni Amman Koil 5th Lane?

The current guideline value for Mundakkanni Amman Koil 5th 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 increased from Rs 960 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 754% over the years.

What is the stamp duty for property in Mundakkanni Amman Koil 5th Lane?

The stamp duty for property in Mundakkanni Amman Koil 5th Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this area?

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

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have varying guideline values, with rates ranging from Rs 3,300 to Rs 25,800 per sq.ft. Mundakkanni Amman Koil 5th Lane's value is below the median of Rs 8,800 per sq.ft for the area.