Guideline Value

Corporate

Guideline Value for Alwarpet 1st Cross Street

₹8700/sq.ft.

The guideline value for Alwarpet 1st Cross Street in Mylapore Part 2 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 2

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 2 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

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

The guideline value for Alwarpet 1st Cross Street has seen a revision from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking an increase of 9%. Prior to the 2023 revision, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In the 2024 revision, the guideline value of Rs 8,700 per sq.ft positions this street below the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO. The previous figure of Rs 8,000 per sq.ft in 2023 indicates a steady increase in the guideline value over the last year.

Guideline values in Mylapore Part 2

In Mylapore Part 2, the guideline values for various streets range from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, and Alwarpet 1st Cross Street's 2024 figure is below this median. Here are some other streets in Mylapore Part 2:

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be 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, making the total cost for these fees Rs 7,83,000. It is important to note that 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 details.

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 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which could affect the overall cost of 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 increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Alwarpet 1st Cross Street's 2024 figure is below this median.

What are the stamp duty rates applicable for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.

Where can I find the Sub Registrar Office for Alwarpet 1st Cross Street?

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