Guideline Value

Corporate

Guideline Value for Alwarpet 1st Lane

₹8700/sq.ft.

The guideline value for Alwarpet 1st Lane 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 Lane

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Alwarpet 1st Lane guideline value

The current guideline value of Alwarpet 1st Lane 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 Lane has changed

Over the years, the guideline value for Alwarpet 1st Lane has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, and it increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This change reflects a notable increase from the previous year, highlighting the adjustments made in property valuations. The 2024 figure is below the median guideline value of Rs 8,800 per sq.ft for streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Alwarpet 1st Lane's 2024 figure of Rs 8,700 per sq.ft is below the median value for the area.

Stamp duty and registration fee for property in Alwarpet 1st Lane

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, calculated at 7%, would amount to Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Alwarpet 1st Lane?

The Sub Registrar Office that covers Alwarpet 1st Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established values in the region.

Frequently asked questions

What is the current guideline value of Alwarpet 1st Lane?

The current guideline value of Alwarpet 1st Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Alwarpet 1st Lane was Rs 8,000 per sq.ft in 2023 and increased by 9% to Rs 8,700 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Alwarpet 1st Lane?

The land classification for Alwarpet 1st Lane is Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Alwarpet 1st Lane?

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 office handles property registrations for Alwarpet 1st Lane?

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