Guideline Value for SOUTH KESAVAPERUMALPURAM 1ST STREET

South Kesavaperumalpuram 1st Street guideline value

The current guideline value of South Kesavaperumalpuram 1st 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 South Kesavaperumalpuram 1st Street has changed

The guideline value for South Kesavaperumalpuram 1st Street has undergone several revisions over the years. In 2002, the value was Rs 1,648 per sq.ft, which increased to Rs 1,831 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,950 per sq.ft in 2007, reflecting a 6% increase. A significant jump occurred in 2012, where the value reached Rs 8,000 per sq.ft, representing a 310% increase from the previous revision. However, it dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current rate of Rs 8,800 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 434%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Mylapore

In Mylapore village, there are 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 is Rs 8,800 per sq.ft, which is equal to the current guideline value for South Kesavaperumalpuram 1st Street.

• South Kesavaperumalpuram 1st Cross Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 2nd Cross Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 2nd Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 3rd Cross Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 3rd Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram Main Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in South Kesavaperumalpuram 1st 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, bringing the total to 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 South Kesavaperumalpuram 1st Street?

The Sub Registrar Office that covers South Kesavaperumalpuram 1st 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps in determining the official value of the transaction. This ensures transparency in property dealings and helps in maintaining accurate records within the registration system.

Frequently asked questions

What is the current guideline value of South Kesavaperumalpuram 1st Street?

The current guideline value of South Kesavaperumalpuram 1st 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 significantly over the years, increasing from Rs 1,648 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 434%.

Where can I find the Sub Registrar Office for South Kesavaperumalpuram 1st Street?

The Sub Registrar Office for South Kesavaperumalpuram 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty and registration fees for property 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.

What is the land classification for South Kesavaperumalpuram 1st Street?

South Kesavaperumalpuram 1st Street is classified as Residential Class III Type - III, indicating its designated use for residential purposes.