Guideline Value for SOUTH KESAVAPERUMALPURAM 2ND CROSS STREET

South Kesavaperumalpuram 2nd Cross Street guideline value

The current guideline value of South Kesavaperumalpuram 2nd Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of South Kesavaperumalpuram 2nd Cross Street has changed

Looking at the revisions, the guideline value for South Kesavaperumalpuram 2nd Cross Street was Rs 8,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision saw an increase to Rs 8,800 per sq.ft, marking a 10% rise from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 revision did not result in any change from the 2012 figure, remaining at Rs 8,000 per sq.ft.

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 for these streets is Rs 8,800 per sq.ft, which is the same as the current guideline value for South Kesavaperumalpuram 2nd Cross Street.

• South Kesavaperumalpuram 1st Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 2nd Street: Rs 8,800 per sq.ft (2024)
• South Kesavaperumalpuram 1st Cross 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 2nd Cross 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, charged at 7%, would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Thus, the total cost for these fees would be Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Kesavaperumalpuram 2nd Cross Street?

The Sub Registrar Office that covers South Kesavaperumalpuram 2nd Cross 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 details.

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

The guideline value is an essential factor in the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of South Kesavaperumalpuram 2nd Cross Street?

The current guideline value of South Kesavaperumalpuram 2nd Cross 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 and 2023 to Rs 8,800 per sq.ft in 2024, reflecting a 10% increase from the previous year.

What is the land classification for South Kesavaperumalpuram 2nd Cross Street?

The land classification for South Kesavaperumalpuram 2nd Cross Street is Residential Class III Type - III.

Which Sub Registrar Office is responsible for properties in this area?

The Mylapore Sub Registrar Office is responsible for properties in South Kesavaperumalpuram 2nd Cross Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 88,00,000 would incur a stamp duty of Rs 6,16,000 at a rate of 7%.