Guideline Value for PATTUNOOL KARAN THOTTAM 1ST STREET

Pattunool Karan Thottam 1st Street guideline value

The current guideline value of Pattunool Karan Thottam 1st Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - II.

How the guideline value of Pattunool Karan Thottam 1st Street has changed

The guideline value for Pattunool Karan Thottam 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 8,500 per sq.ft, which was then revised down to Rs 5,695 per sq.ft in 2017. However, the latest revision in 2024 has increased the value to Rs 9,300 per sq.ft, marking a 63% increase from the 2017 figure and an overall increase of 9% from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The change from 2012 to 2017 was a decrease of 33%, reflecting a significant shift in the guideline value during that period.

Guideline values in Mylapore

Mylapore village has a total of 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 in this area is Rs 8,800 per sq.ft, positioning Pattunool Karan Thottam 1st Street above this median.

• Pattunool Karan Thottam 2nd Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 3rd Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 4th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 5th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 6th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam Main Road: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pattunool Karan Thottam 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 9,300 per sq.ft, the guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, making the total 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pattunool Karan Thottam 1st Street?

The Sub Registrar Office that covers Pattunool Karan Thottam 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that the buyer must pay during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Pattunool Karan Thottam 1st Street?

The current guideline value of Pattunool Karan Thottam 1st Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, and then increased to Rs 9,300 per sq.ft in 2024. This represents a 63% increase from the 2017 figure and an overall increase of 9% from the 2012 figure.

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

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Mylapore?

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

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft. The guideline value of Pattunool Karan Thottam 1st Street is above this median, reflecting its current value of Rs 9,300 per sq.ft.