Guideline Value for SOUTH KESAVAPERUMALPURAM MAIN ROAD

South Kesavaperumalpuram Main Road guideline value

The current guideline value of South Kesavaperumalpuram Main Road 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 Main Road has changed

The guideline value for South Kesavaperumalpuram Main Road has seen significant changes 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 11% rise. The value then rose to Rs 1,950 per sq.ft in 2007, reflecting a 6% increase. A substantial jump occurred in 2012, where the value reached Rs 8,000 per sq.ft, showing a 310% increase from the previous revision. However, this value dropped to Rs 5,360 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 8,000 per sq.ft, which was a 49% rise. The most recent revision in 2024 saw the value rise to Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 434%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 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 South Kesavaperumalpuram Main Road.

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

Stamp duty and registration fee for property in South Kesavaperumalpuram Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for your calculations.

Which Sub Registrar Office covers South Kesavaperumalpuram Main Road?

The Sub Registrar Office that covers South Kesavaperumalpuram Main Road 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 when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the local regulations.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency in property transactions and ensures that the correct fees are applied based on the established rates.

Frequently asked questions

What is the current guideline value of South Kesavaperumalpuram Main Road?

The current guideline value of South Kesavaperumalpuram Main Road 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, showing an overall increase of 434% over this period.

What are the stamp duty rates applicable in Mylapore?

The stamp duty rate in Mylapore is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for South Kesavaperumalpuram Main Road?

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

How can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.