Guideline Value for Mylai Kabaleeswarar Colony layout

Mylai Kabaleeswarar Colony layout guideline value

The current guideline value of Mylai Kabaleeswarar Colony layout is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this layout is Residential Class I Type - I.

How the guideline value of Mylai Kabaleeswarar Colony layout has changed

According to the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Mylai Kabaleeswarar Colony layout. The most recent revision is from 2024, where the guideline value is set at Rs 3,850 per sq.ft.

As there are no changes between the revisions listed, the only available figure is from the 2024 revision, which reflects the current valuation of the property in this layout.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Mylai Kabaleeswarar Colony layout is above this median.

• Mylai Kabaleeswarar Colony layout 1st Street: Rs 3,850 per sq.ft (2024)
• Mylai Kabaleeswarar Colony layout 2nd Street: Rs 3,850 per sq.ft (2024)
• Mylai Karpagambal Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Mylai Karpagambal Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Mylai Karpagambal Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Muthu Mohammed Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mylai Kabaleeswarar Colony layout

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mylai Kabaleeswarar Colony layout?

The Mylai Kabaleeswarar Colony layout is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, ensuring that the transaction is recorded accurately and legally. Buyers should be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mylai Kabaleeswarar Colony layout?

The current guideline value of Mylai Kabaleeswarar Colony layout is Rs 3,850 per sq.ft, effective from 1 July 2024.

What land classification does Mylai Kabaleeswarar Colony layout fall under?

The land classification for Mylai Kabaleeswarar Colony layout is Residential Class I Type - I.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 under the Velacheri SRO that carry a 2024 guideline value.

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

For a 1,000 sq.ft plot, the guideline value is Rs 38,50,000, with a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Mylai Kabaleeswarar Colony layout?

The Velacheri Sub Registrar Office handles registrations for Mylai Kabaleeswarar Colony layout, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.