Guideline Value for PARIPOORANA VINAYAGAR KOIL STREET

Paripoorana Vinayagar Koil Street guideline value

The current guideline value of Paripoorana Vinayagar Koil Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Paripoorana Vinayagar Koil Street has changed

The guideline value for Paripoorana Vinayagar Koil Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 783 per sq.ft. This increased to Rs 870 per sq.ft in 2003, marking an increase of 11%. The next significant change occurred in 2012, where the value was Rs 8,500 per sq.ft, reflecting a substantial increase of 877% from 2003. However, in 2017, it decreased to Rs 5,695 per sq.ft, a drop of 33%. The value then rose to Rs 8,500 per sq.ft in 2023, and finally, it reached Rs 9,300 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

It is important to note that there is no figure available for Paripoorana Vinayagar Koil Street in the 2007 revision. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,088%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, placing Paripoorana Vinayagar Koil Street above this median at Rs 9,300 per sq.ft.

• Park View Road / Street: Rs 9,300 per sq.ft (2024)
• Pappu Masthan Dharga Main Street: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 6th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 5th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 4th Street/Lane: Rs 3,300 per sq.ft (2024)
• Pappu Masthan Dharga 3rd Street/Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Paripoorana Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total fees together to Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paripoorana Vinayagar Koil Street?

The Sub Registrar Office that covers Paripoorana Vinayagar 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 additional information.

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

The guideline value is an essential factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

When you approach the Sub Registrar Office for registration, the guideline value will be referenced to assess the applicable fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Paripoorana Vinayagar Koil Street?

The current guideline value of Paripoorana Vinayagar Koil Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing by 1,088% from Rs 783 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024.

What is the stamp duty rate for properties in Paripoorana Vinayagar Koil Street?

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during property transactions.