Guideline Value for Alwarpet 2nd Cross Street

Alwarpet 2nd Cross Street guideline value

The current guideline value of Alwarpet 2nd Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Alwarpet 2nd Cross Street has changed

The guideline value for Alwarpet 2nd 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 this, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

The only available revisions are from 2023 and 2024, with the 2024 figure being the highest recorded for this street. The absence of figures in earlier years indicates that the guideline value has not been established for those periods.

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. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Alwarpet 2nd Cross Street's 2024 figure below this median.

• Alwarpet 1st Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 2nd Lane: Rs 8,700 per sq.ft (2024)
• Alwarpet 1st Lane: Rs 8,700 per sq.ft (2024)
• Alwarpet 2nd Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 3rd Lane: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alwarpet 2nd 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 amount to Rs 6,09,000, and 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 or the sale price.

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

Which Sub Registrar Office covers Alwarpet 2nd Cross Street?

The Sub Registrar Office that covers Alwarpet 2nd 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps ascertain the applicable duties and fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Alwarpet 2nd Cross Street?

The current guideline value of Alwarpet 2nd 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 changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the registration office for Alwarpet 2nd Cross Street?

The registration office for Alwarpet 2nd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

For a property valued at the current guideline value of Rs 8,700 per sq.ft, the stamp duty would be 7% and the registration fee would be 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 7,83,000.

What is the median guideline value for streets in Mylapore Part 1?

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