Guideline Value for PERIYA MALAYAPPAN STREET

Periya Malayappan Street guideline value

The current guideline value of Periya Malayappan Street is Rs 3,300 per sq.ft. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Periya Malayappan Street has changed

Over the years, the guideline value of Periya Malayappan Street has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 699 per sq.ft. This increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, which was a substantial increase of 16%. The next revision in 2012 saw the value remain at Rs 3,000 per sq.ft, with no change noted until 2023. In 2023, the guideline value was again Rs 3,000 per sq.ft, and in the latest revision of 2024, it increased to Rs 3,300 per sq.ft, reflecting a 10% rise.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 372%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values for 2024 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, positioning Periya Malayappan Street's 2024 figure below this median.

• Periapalli Street: Rs 8,800 per sq.ft (2024)
• Pedariyar Koil Lane (Karaneeswarar Koil Street): Rs 8,800 per sq.ft (2024)
• Pazhandi Amman Huts: Rs 3,300 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)

Stamp duty and registration fee for property in Periya Malayappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Malayappan Street?

The Sub Registrar Office that covers Periya Malayappan 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 plays a crucial role in the registration process of property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions based on the established values.

It is essential for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process. The guideline value is updated periodically, reflecting changes in the real estate landscape, and it is advisable to check these values before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Periya Malayappan Street?

The current guideline value of Periya Malayappan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 372%.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is higher than the current value of Periya Malayappan Street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Periya Malayappan Street located?

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