Guideline Value for Alwarpet 3rd Lane

Alwarpet 3rd Lane guideline value

The current guideline value of Alwarpet 3rd 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 3rd Lane has changed

In the 2023 revision, the guideline value for Alwarpet 3rd Lane was Rs 8,000 per sq.ft. The recent 2024 revision shows an increase of 9%, bringing the current value to Rs 8,700 per sq.ft. The register has no figures for this street for the years 2017, 2012, 2007, 2003, and 2002.

From the 2023 to 2024 revision, the increase reflects a change in the guideline value per sq.ft. The previous value of Rs 8,000 has now risen to Rs 8,700, indicating a positive adjustment in the valuation for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with 2024 guideline values 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, placing Alwarpet 3rd Lane's value below this median.

• Alwarpet 2nd Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 3rd Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 2nd Lane: Rs 8,700 per sq.ft (2024)
• Alwarpet 4th Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Alwarpet 5th Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alwarpet 3rd 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 at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000. Together, the total cost for these fees would be 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.

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

Which Sub Registrar Office covers Alwarpet 3rd Lane?

The Sub Registrar Office that covers Alwarpet 3rd Lane 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 plays a crucial role 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 a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both buyers and sellers are aware of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Alwarpet 3rd Lane?

The current guideline value of Alwarpet 3rd 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 3rd Lane was Rs 8,000 per sq.ft in 2023 and increased by 9% to Rs 8,700 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Alwarpet 3rd Lane's value is below this median.

What are the stamp duty and registration fees for properties in Alwarpet 3rd Lane?

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

Where is the Sub Registrar Office for Alwarpet 3rd Lane located?

The Sub Registrar Office for Alwarpet 3rd Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.