Guideline Value for Archbishop mathus Avenue

Archbishop mathus Avenue guideline value

The current guideline value of Archbishop mathus Avenue is Rs 20,900 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 Commercial Special Type - I.

How the guideline value of Archbishop mathus Avenue has changed

The guideline value for Archbishop mathus Avenue has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 19,000 per sq.ft, which was an increase from the previous figure. In the latest 2024 revision, the guideline value rose by 10% to Rs 20,900 per sq.ft.

This increase reflects a change in the value assigned to the street, moving from Rs 19,000 in 2023 to Rs 20,900 in 2024. The consistent revisions indicate a structured approach to updating property values in this area.

Guideline values in Mylapore Part 1

Mylapore Part 1 comprises 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 in this area is Rs 8,800 per sq.ft, placing Archbishop mathus Avenue's 2024 figure above that median.

• Appadurai Street: Rs 8,700 per sq.ft (2024)
• Arundadhi Nagar: Rs 6,100 per sq.ft (2024)
• Anna Salai (Nandanam to Jemini Membalam): Rs 20,900 per sq.ft (2024)
• Austin Nagar 1st Street: Rs 12,100 per sq.ft (2024)
• Austin Nagar 2nd Street: Rs 12,100 per sq.ft (2024)
• Avvai Shanmugam Salai (Lloyds Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Archbishop mathus Avenue

For a 1,000 sq.ft plot at the current rate of Rs 20,900 per sq.ft, the guideline value amounts to Rs 2,09,00,000. The stamp duty at 7% would be Rs 14,63,000, and the registration fee at 2% would be Rs 4,18,000, totaling Rs 18,81,000. 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 Archbishop mathus Avenue?

The Sub Registrar Office that covers Archbishop mathus Avenue 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 when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and reflects the value of the property as recognized by the local authorities.

Frequently asked questions

What is the current guideline value of Archbishop mathus Avenue?

The current guideline value of Archbishop mathus Avenue is Rs 20,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 19,000 per sq.ft in 2023 to Rs 20,900 per sq.ft in 2024, which is a 10% increase.

What is the land classification of Archbishop mathus Avenue?

The land classification for Archbishop mathus Avenue is Commercial Special Type - I.

Where can I find the Sub Registrar Office for Archbishop mathus Avenue?

The Sub Registrar Office for Archbishop mathus Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Mylapore Part 1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 2,09,00,000 would incur a stamp duty of Rs 14,63,000 at a rate of 7%.