Guideline Value for Avvai Shanmugam Salai (Lloyds Road)

Avvai Shanmugam Salai (Lloyds Road) guideline value

The current guideline value for Avvai Shanmugam Salai (Lloyds Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Avvai Shanmugam Salai (Lloyds Road) has changed

The guideline value for Avvai Shanmugam Salai (Lloyds Road) has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 12,000 per sq.ft, which increased to Rs 13,200 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for this street. The current value of Rs 13,200 per sq.ft is the most recent and reflects the latest assessment as of July 2024.

Guideline values in Mylapore Part 1

Within 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 value for this area is Rs 8,800 per sq.ft, placing Avvai Shanmugam Salai (Lloyds Road) above this median.

• Austin Nagar 2nd Street: Rs 12,100 per sq.ft (2024)
• Austin Nagar 1st Street: Rs 12,100 per sq.ft (2024)
• Ayya Street: Rs 7,700 per sq.ft (2024)
• Babu Lane: Rs 7,700 per sq.ft (2024)
• Babu Street: Rs 7,700 per sq.ft (2024)
• Bajooriars Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Avvai Shanmugam Salai (Lloyds Road)

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Avvai Shanmugam Salai (Lloyds Road)?

The Sub Registrar Office that covers Avvai Shanmugam Salai (Lloyds Road) 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 the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Avvai Shanmugam Salai (Lloyds Road)?

The current guideline value of Avvai Shanmugam Salai (Lloyds Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, representing a change of +10%.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft, with Avvai Shanmugam Salai (Lloyds Road) being above this median.

What is the registration fee for property in Avvai Shanmugam Salai (Lloyds Road)?

The registration fee for property in Avvai Shanmugam Salai (Lloyds Road) is calculated based on the guideline value or sale price, whichever is higher. For a property valued at Rs 1,32,00,000, the registration fee would be Rs 2,64,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Avvai Shanmugam Salai (Lloyds Road)?

The Sub Registrar Office for Avvai Shanmugam Salai (Lloyds Road) is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.