Guideline Value for BANGARU AMMAL STREET

Bangaru Ammal Street guideline value

The current guideline value for Bangaru Ammal Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Bangaru Ammal Street has changed

The guideline value for Bangaru Ammal Street has seen significant changes over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 1,057 per sq.ft in 2003, marking a change of 21%. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 46% increase. By 2012, the guideline value reached Rs 6,500 per sq.ft, a substantial increase of 322% from 2007. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, which is a 9% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 714%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, placing Bangaru Ammal Street's 2024 figure below this median.

• Balasubramanian Street: Rs 13,200 per sq.ft (2024)
• Barbar Bridge 1st Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 2nd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 3rd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 4th Lane: Rs 4,900 per sq.ft (2024)
• Baskarapuram: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bangaru Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bangaru Ammal Street?

The Sub Registrar Office that covers Bangaru Ammal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a critical factor when registering property transactions in Mylapore. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and helps prevent undervaluation in property transactions.

Frequently asked questions

What is the current guideline value for Bangaru Ammal Street?

The current guideline value for Bangaru Ammal Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 714% over the years.

What are the other streets in Mylapore and their guideline values?

Other streets in Mylapore include Balasubramanian Street at Rs 13,200 per sq.ft, and several lanes of Barbar Bridge at Rs 4,900 per sq.ft, among others.

What fees are applicable for property registration?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 71,00,000, the total fees would amount to Rs 6,39,000.

Where can I find the Sub Registrar Office for Bangaru Ammal Street?

The Sub Registrar Office for Bangaru Ammal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.