Guideline Value for SOUTH KESAVAPERUMALPURAM 2ND STREET

South Kesavaperumalpuram 2nd Street guideline value

The current guideline value of South Kesavaperumalpuram 2nd 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 Street has changed

The guideline value for South Kesavaperumalpuram 2nd Street has seen several revisions over the years. The earliest recorded figure is Rs 1,648 per sq.ft in 2002, which increased to Rs 1,831 per sq.ft in 2003, marking a change of +11%. Following this, the value rose to Rs 1,950 per sq.ft in 2007, reflecting a +6% increase. A significant jump occurred in 2012 when the value reached Rs 8,000 per sq.ft, an increase of +310% from the previous revision. However, in 2017, the guideline value dropped to Rs 5,360 per sq.ft, a decrease of -33%. The value then rose again to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +434%. There are no revisions with figures missing for this street in the register.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, and South Kesavaperumalpuram 2nd Street's current value aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers South Kesavaperumalpuram 2nd Street?

The Sub Registrar Office that covers South Kesavaperumalpuram 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more details, 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 buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the legal value of the property. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of South Kesavaperumalpuram 2nd 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 from Rs 1,648 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of +434% over the years.

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

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

What are the stamp duty and registration fees for properties here?

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

Which office handles registrations for South Kesavaperumalpuram 2nd Street?

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