Guideline Value

Corporate

Guideline Value for Alwarpet 1st Cross Street

₹8700/sq.ft.

The guideline value for Alwarpet 1st Cross Street in Mylapore Part 1 village (Chennai Central Joint I SRO, Chennai zone) is Rs 8700 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore Part 1

Village

Chennai Central Joint I

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹8700 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014
044-28613608
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Alwarpet 1st Cross Street

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Alwarpet 1st Cross Street guideline value

The current guideline value of Alwarpet 1st Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Alwarpet 1st Cross Street has changed

According to the register, there are no figures available for Alwarpet 1st Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft. In the latest 2024 revision, the guideline value increased to Rs 8,700 per sq.ft, marking a change of +9% from the previous year.

This increase reflects the current valuation trends in the area, with the guideline value for Alwarpet 1st Cross Street now positioned at Rs 8,700 per sq.ft as of 2024, up from Rs 8,000 per sq.ft in 2023.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that Alwarpet 1st Cross Street's 2024 figure is slightly below this median.

Stamp duty and registration fee for property in Alwarpet 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Alwarpet 1st Cross Street?

The Sub Registrar Office that covers Alwarpet 1st Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process for property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers and sellers should be aware of these values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Alwarpet 1st Cross Street?

The current guideline value of Alwarpet 1st Cross Street is Rs 8,700 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 2023 to Rs 8,700 per sq.ft in 2024, representing a 9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Alwarpet 1st Cross Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Alwarpet 1st Cross Street. It is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How does the guideline value affect property transactions?

The guideline value plays a crucial role in determining the minimum registration value for property transactions. It also influences the calculation of stamp duty and registration fees, which are essential costs to consider when buying or selling property.