Guideline Value for PEDARIYAR KOIL LANE (KARANEESWARAR KOIL STREET)

Pedariyar Koil Lane (Karaneeswarar Koil Street) guideline value

The current guideline value of Pedariyar Koil Lane (Karaneeswarar Koil Street) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class III Type - III.

How the guideline value of Pedariyar Koil Lane (Karaneeswarar Koil Street) has changed

Over the years, the guideline value of Pedariyar Koil Lane has seen several revisions. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the value rose to Rs 8,000 per sq.ft in 2023 and further increased to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Pedariyar Koil Lane.

• Pazhandi Amman Huts: Rs 3,300 per sq.ft (2024)
• Periapalli Street: Rs 8,800 per sq.ft (2024)
• Pattunool Karan Thottam Main Road: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 6th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 5th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 4th Street: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pedariyar Koil Lane (Karaneeswarar Koil Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Therefore, the total cost for duty and registration would be Rs 7,92,000. 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 Pedariyar Koil Lane (Karaneeswarar Koil Street)?

The Sub Registrar Office that covers Pedariyar Koil 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When a property is registered, the guideline value ensures transparency and uniformity in the valuation process. It helps in maintaining a standard for property transactions, making it easier for buyers and sellers to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Pedariyar Koil Lane?

The current guideline value of Pedariyar Koil Lane (Karaneeswarar Koil Street) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then increased to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification of Pedariyar Koil Lane?

Pedariyar Koil Lane is classified as Residential Class III Type - III under the Mylapore SRO.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles registrations for Pedariyar Koil Lane?

The Mylapore Sub Registrar Office handles registrations for Pedariyar Koil Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.