Guideline Value for Alwarpet Street

Alwarpet Street guideline value

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

How the guideline value of Alwarpet Street has changed

The guideline value for Alwarpet Street has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This increase reflects a change in the valuation of the property, moving from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024.

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

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

Stamp duty and registration fee for property in Alwarpet 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 duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alwarpet Street?

The Sub Registrar Office that covers Alwarpet 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 crucial factor during property registration in Mylapore Part 1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Alwarpet Street?

The current guideline value of Alwarpet 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 for Alwarpet Street 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 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Alwarpet Street?

For a 1,000 sq.ft property at the current guideline value, the total 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 higher of the guideline value or the sale price.

Which office handles registrations for Alwarpet Street?

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

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 Street's guideline value of Rs 8,700 per sq.ft is below this median.