Guideline Value for Avvai Shanmugam Salai (Lloyds Road)

Avvai Shanmugam Salai (Lloyds Road) guideline value

The current guideline value of Avvai Shanmugam Salai (Lloyds Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls 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 does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, 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 are no recorded figures for the street in the previous years listed. The current figure of Rs 13,200 per sq.ft is significantly above the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

The guideline values for Mylapore Part 2 range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Avvai Shanmugam Salai's current 2024 figure is 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. 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 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 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the prevailing market conditions. Buyers and sellers should be aware of the guideline value to accurately assess the costs involved in the registration process.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting an increase of +10%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Avvai Shanmugam Salai (Lloyds Road)?

The land classification for Avvai Shanmugam Salai (Lloyds Road) is Commercial Special Type - III, which indicates its use for commercial purposes.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. This is based on the current guideline value.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Avvai Shanmugam Salai (Lloyds Road) is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.