Guideline Value for MUNDAKKANNI AMMAN KOIL STREET

Mundakkanni Amman Koil Street guideline value

The current guideline value of Mundakkanni Amman Koil Street is Rs 12,100 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 II Type - II.

How the guideline value of Mundakkanni Amman Koil Street has changed

The guideline value for Mundakkanni Amman Koil Street has seen significant changes over the years. In 2002, the value was Rs 1,121 per sq.ft, which increased to Rs 1,245 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,950 per sq.ft, a remarkable increase of 57%. The value remained at Rs 11,000 per sq.ft from 2012 until 2023, with no figures available for the year 2017. In 2023, the guideline value was Rs 11,000 per sq.ft, and it increased by 10% to reach Rs 12,100 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 979%. The revisions reflect the changing landscape and valuation of properties in the area, with the most recent revision indicating a strong upward trend in the guideline value.

Guideline values in Mylapore

In Mylapore, there are 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 Street's 2024 figure above this median.

• Mundakkanni Amman Koil 5th Lane: Rs 8,200 per sq.ft (2024)
• Mundakkanni Amman Koil 4th Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value would be Rs 1,21,00,000. The stamp duty at 7% would amount to Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, totaling Rs 10,89,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mundakkanni Amman Koil Street?

The Sub Registrar Office that covers Mundakkanni Amman Koil 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 information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing a property. This value is set by the government and is regularly revised to reflect changes in the real estate market.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately and fairly in the official register. It helps in preventing underreporting of property values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mundakkanni Amman Koil Street?

The current guideline value of Mundakkanni Amman Koil Street is Rs 12,100 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 1,121 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, marking an overall increase of 979% over the years.

What is the stamp duty for properties in Mundakkanni Amman Koil Street?

The stamp duty for properties is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 8,47,000 based on the current guideline value.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Mundakkanni Amman Koil Street, 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. For example, Mundakkanni Amman Koil 4th Lane and 3rd Lane both have a guideline value of Rs 12,100 per sq.ft in 2024.